Iberdrola S.A.

Goldman Sachs added Solaria, Straumann, Scout24 and IMCD to its European Conviction List for October, while removing Naturgy, Norsk Hydro and Smith & Nephew, the broker said in a note dated Thursday. The broker did not give reasons for the removals, while its analysts cited improving earnings prospects, valuation and potential for stronger demand as reasons for the new additions. For Spanish renewable energy company Solaria, Goldman analyst Alberto Gandolfi said the market was underestimating improvements in the company's core solar business as pricing strengthens, and pointed to potential growth from data centres and energy storage. Straumann is expected to benefit from a recovery in sales, helped by improving inventories in China and stronger profit margins, analyst Richard Felton said, adding that the dental equipment maker's valuation was close to its lowest level in nearly a decade. For Swiss online marketplace Scout24, analyst Adam Berlin said new products could support growth in private subscribers, putting his estimates above market expectations, and he also sees potential for the company to return more cash to shareholders than expected. IMCD could be approaching a turning point in volumes, while its more specialised product mix should help prices hold up better than expected, analyst Suhasini Varanasi said. Goldman said additions to or removals from its Conviction Lists do not change its underlying investment ratings. Elsewhere, Goldman kept Swedish engineering group Trelleborg on the list with a Buy rating and saw 20% upside, cut its third-quarter 2026 sales estimate by 50 basis points and adjusted EBITA forecast by 140 basis points, and retained a buy rating on BMW following the automaker's Capital Markets Day, seeing 48% upside. The bank upgraded Iberdrola to buy from neutral and raised its price target by 19% to €25 from €21, upgraded AJ Bell to neutral from sell, and remained buy-rated on French steel tube maker Vallourec.

Deutsche Bank upgraded Spanish utility Iberdrola to "buy" from "hold" on Tuesday, citing potential upside from a strategic plan update due in March 2027 and stronger earnings expectations. The broker raised its price target to €22 from €18.50, mainly reflecting higher earnings forecasts driven by stronger power prices and a better near-term growth outlook. Deutsche Bank lifted its 2027 earnings-per-share forecast to €1.14 from €1.09 and its 2028 forecast to €1.27 from €1.17, while leaving its 2026 estimate unchanged at €1.01. The bank expects Iberdrola to extend its current 2025-28 plan through 2030 and potentially raise its annual adjusted net income growth target to 10% from 8%, which would put adjusted net income at around €10 billion by 2030, about 10% above Bloomberg consensus. Deutsche Bank also expects Iberdrola to raise its 2026 guidance at its third-quarter results, forecasting adjusted net income growth of 12% for the year versus current guidance of at least 8%.

Iberdrola | bp pulse has selected Driivz to manage and optimize its network of 2,500 fast and ultra-fast chargers across Spain and Portugal. The Driivz software platform will provide real-time visibility and actionable insight on availability, uptime, hardware performance, and charging patterns, supporting the charge point operator's growth through data-driven operations. Federico Artes, Technology and Operations Director of Iberdrola | bp pulse for the Iberian Peninsula, said the migration is a strategic decision to build on foundations that allow growth, innovation, and reliability, adding that the partnership will translate into a more reliable network for drivers and a smarter grid asset for the energy ecosystem. Driivz's API-first architecture and dynamic energy management solution will also lay the technical foundation for future innovations such as vehicle-to-grid and smart coordinated charging. The partnership comes as the EV charging industry shifts priorities, with Driivz's 2026 State of EV Charging Network Operators Report finding that 59% of operators now cite charger reliability as the top challenge and 67% consider AI very important or critical to growth.

BP and Iberdrola have received government approval to expand green hydrogen production at BP's Castellón refinery in Spain, with the enlarged facility planned to become Spain's largest operational green hydrogen project by 2026. The project aims to support decarbonization of industrial processes and reinforce regional progress on European emissions goals. The Castellón expansion adds a concrete renewable project to BP's portfolio while the company continues to operate its traditional hydrocarbons business. The partnership with Iberdrola and explicit government support may be relevant for comparing BP's low carbon project delivery against other integrated energy companies in Europe.