Equita cuts target for Terna stock to EUR 8.90

Published on 10/14/2026 at 12:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached EUR 2.10 billion, up 12.00 percent year over year. Terna stock costs EUR 9.33 versus the EUR 9.25 Xetra close.

Catalyst and trading context

On October 7, 2026, Equita lowered its Terna target from EUR 9.50 to EUR 8.90.
First-half 2026 revenue reached EUR 2.10 billion, up 12.00 percent year over year.
Terna stock trades at EUR 9.33 at 12:12 p.m. CEST at Lang & Schwarz on October 14, 2026, 0.86 percent above the Xetra close of October 13, 2026 at EUR 9.25.
Terna's next earnings report is scheduled for November 12, 2026.

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Equita cut its Terna target from EUR 9.50 to EUR 8.90 on October 7, 2026, while retaining a Hold recommendation, Teleborsa reported. Terna stock was trading at EUR 9.33 at Lang & Schwarz on October 14, 2026 at 12:12 p.m. CEST.

Higher rates shape the target

Teleborsa said Equita's target reduction reflected higher interest rates and a possible 30 to 40 basis-point reduction in allowed WACC for 2027. The broker estimated that the WACC reset could reduce Terna's 2027 earnings per share by 3.00 to 4.00 percent after inflation-linked regulatory asset-base effects.

The target of EUR 8.90 sits below the current Lang & Schwarz price of EUR 9.33, making the rate review the central valuation counterweight in the latest analyst view.

What did first-half figures show?

Terna reported EUR 2.10 billion of revenue in the first half of 2026, up 12.00 percent year over year, while EBITDA rose 8.00 percent to EUR 1.50 billion, Investing.com reported. Net income increased 1.00 percent to EUR 591.00 million as higher financial and tax costs limited the earnings benefit.

Capital expenditure reached EUR 1.60 billion in the first half of 2026, up 20.00 percent year over year, with spending directed mainly toward regulated grid development. The combination of double-digit revenue growth and slower net-income growth explains why operating progress and financing sensitivity are pulling in different directions.

Terna milestones over twelve months

On June 22, 2026, Terna's latest dividend was EUR 0.28 per share, with the ex-dividend date listed by Barron's. On July 29, 2026, first-half revenue stood at EUR 2.10 billion, and on October 7, 2026, Equita lowered its target to EUR 8.90 from EUR 9.50.

Next reporting date

Investing.com lists November 12, 2026 as Terna's next earnings report date, giving the market a defined checkpoint for testing the 2026 outlook.

Stock remains inside annual range

At EUR 9.33, Terna stock was EUR 0.08, or 0.86 percent, above the Xetra close of October 13, 2026 at EUR 9.25. The 52-week range is EUR 8.70 to EUR 10.41, while market capitalization is EUR 18.7 billion as of October 14, 2026. The further course of trading is shown by the continuously updated real-time quote of Terna stock.