Italgas stock falls 1.46 percent as Turin network project starts

Published on 10/07/2026 at 14:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Italgas stock was at EUR 8.08 on October 7, 2026, while analysts set a EUR 10.667 average target. H1 adjusted EBITDA rose 25 percent to EUR 1.072 billion.

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Italgas stock (ISIN IT0005211237) was trading at EUR 8.08 on Borsa Italiana on October 7, 2026 at 2:07 p.m. CEST, down 1.46 percent from the previous close. The immediate company event is a new 12-year gas distribution contract in the Turin 5 area, with more than EUR 87 million earmarked for network investment.

Turin contract adds investment

According to ANSA on October 6, 2026, Italgas Reti began managing the service across Ivrea and 75 other municipalities in the Canavese area. The project covers network expansion, digitalization and the replacement of traditional meters, with about 1,000 indirect jobs connected to the investment.

The Turin award gives Italgas a tangible operating milestone while the group pursues broader expansion. On October 2, 2026, Italgas announced a binding agreement to acquire the company holding 22.5 percent of Portugal's Floene for an equity value of EUR 120 million, subject to regulatory approvals.

H1 earnings raise the base

The operating backdrop is stronger than the daily share move suggests. Investing.com reported that H1 2026 adjusted revenue increased 17.5 percent to EUR 1.09 billion, while adjusted EBITDA rose 25 percent to EUR 1.072 billion.

Adjusted net profit reached EUR 398.6 million in H1 2026, up 27.3 percent, and operating cash flow reached EUR 930 million, according to Investing.com. The comparison matters because earnings growth and infrastructure spending are advancing together during the integration of 2i Rete Gas.

Consensus target stays above price

The analyst view remains more constructive than the intraday quotation. The Investing.com consensus is Buy from 15 analysts, with 5 Buy, 10 Hold and 0 Sell ratings; the average 12-month target is EUR 10.667, with a high of EUR 11.70 and a low of EUR 9.80. The average target lies 32.02 percent above the EUR 8.08 price, putting regulatory returns and acquisition execution at the center of the valuation debate.

Italgas stock trades below yearly high

Italgas stock was last at EUR 8.08 on Borsa Italiana on October 7, 2026 at 2:07 p.m. CEST. Its 52-week range was EUR 7.90 to EUR 11.30, while market capitalization stood at EUR 8.2 billion and volume reached 353,160 shares.