Bernstein cuts Grenergy to 'Market‑perform' on limited upside scope

Grenergy Renovables SA

16/04/2026 11:26

** Bernstein downgrades Grenergy GREG.MC to "Market-perform" from "Overperform" saying growth to 2030 has already been priced in and seeing limited scope for upside surprises

** However, it raises its price target by 57% to 113 euros following the sharp re-rating of Grenergy's shares after its 2025 Capital Markets Day

** "The market is now paying upfront for value creation that still needs to be crystallised through 2030," it adds

** The upcoming 2026-28 strategic update could improve visibility on platform growth, though its current valuation already prices in the delivery of projects such as its Chilean platforms and the visible Greenbox pipeline, the broker says

** Out of 14 analysts that cover Grenergy, ten rate the stock "strong buy" or "buy," ​three rate it "hold" and one rates the stock "strong sell"​ - LSEG data

 (Reporting by Gemma Guasch)

 ((Gemma.guasch@thomsonreuters.com))