Barclays and LBBW Raise RWE Targets as Utility Flags Top-End Earnings and Weighs Urenco Exit
Published on 11/15/2026 at 03:40 | Editorial boerse-global.de
RWE has told investors to expect full-year 2026 results at the upper end of its confirmed guidance ranges, after a strong nine-month showing that prompted two brokers to lift their price targets on the same day. Barclays raised its target to EUR 73 from EUR 72 on Thursday while reiterating an "Overweight" rating, and LBBW moved its target to EUR 66.60 from EUR 63.20, keeping a "Buy" recommendation. The LBBW revision was tied to the nine-month figures. Shares in the Essen-based utility added 1.2% on Friday.
Earnings Climb Sharply
For the first three quarters of 2026, RWE posted adjusted EBITDA of EUR 4.6 billion, up 35% from EUR 3.4 billion a year earlier. Adjusted net income reached EUR 1.8 billion, translating into adjusted earnings per share of EUR 2.52. For the full year, management projects adjusted EBITDA of EUR 5.75 billion to EUR 6.35 billion and adjusted net income of EUR 1.95 billion to EUR 2.45 billion. The dividend target stands at EUR 1.32 per share.
Offshore Wind Partnership Sealed
Alongside the results, RWE and KKR closed their joint venture for the British offshore wind projects Vanguard West and Vanguard East on Wednesday. KKR took a 50% stake in each project, which together account for roughly 2.8 GW of capacity. Total planned investment is around GBP 12 billion.
Should investors sell immediately? Or is it worth buying Rwe?
Berlin Weighs Urenco Stake Purchase
Reuters reported Friday, citing insiders, that the German federal government wants to acquire the Urenco shares held by RWE and E.ON. A deal is not expected before mid-2027. The government and the companies declined to comment, and the takeover plans remain unconfirmed.
More Gas Bids in the Pipeline
On the domestic power plant front, finance chief Michael Müller held out the prospect of further bids on Wednesday. According to Reuters, RWE intends to take part in the second tender round for new gas-fired capacity and has projects totaling 1.5 GW ready for the process. The company had already announced on November 3 that it would build three hydrogen-ready gas plants following awards from the Federal Network Agency. The facilities in Voerde, Weisweiler and Werne are designed to provide around 2,100 MW of secured capacity over 15 years.
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Rwe Stock: New Analysis - 15 November
Fresh Rwe information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
