Bernstein analysts said Monday that EDP-Energias de Portugal’s integrated business model is set to gain from rising electricity demand in the Iberian Peninsula. The analysts cited electrification efforts, data-center expansion, and emerging green hydrogen projects as structural drivers. Higher power demand, they said, puts a floor under wholesale electricity prices. Bernstein also noted that EDP’s hydropower plants—which have long life cycles and generate high free cash flow—are underappreciated by the market. Shares of EDP rose 0.8% to €4.443.
Baader Helvea analyst Frederic Lorec said Austrian oil-and-gas firm OMV will benefit from elevated energy prices, which the company can use to fund a transformation of its chemicals division. Baader Helvea raised its price target on OMV, citing stronger commodity prices, and revised its 2026 earnings-per-share forecast upward to €6.53 from €6.44. For 2027, however, Baader Helvea lowered its EPS estimate to €5.46 from €6.66. OMV shares traded 0.2% higher at €56.
Macquarie upgraded its rating on Karoon Energy to neutral from underperform following a 30% decline in the stock since June 11. The brokerage noted that Friday’s closing price of A$1.44 was below its A$1.50 per-share target. Macquarie said Karoon’s stock now implies an oil price of US$69.60 per barrel, down from US$74.00 on June 16. The share-price fall followed the U.S.-Iran peace deal. “Oil price leverage is significant for Karoon,” Macquarie said, but added that it believes the market has appropriately priced in crude weakness. Macquarie said it plans to review its outlook for Karoon once production at its Bauna oil field in Brazil resumes and can be observed. The brokerage also noted that the lengthy delay to recovery at Karoon’s Who Dat operation in the Gulf of Mexico remains an overhang.