JP Morgan raised target for Merlin Properties stock to EUR 12.00

Published on 10/14/2026 at 13:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JP Morgan lifted its target from EUR 10.25 to EUR 12.00. Merlin Properties stock costs EUR 12.22 on October 14, 2026.

Analyst targets and operating scale

JP Morgan raised its Merlin Properties target from EUR 10.25 to EUR 12.00.
First-half 2026 FFO reached EUR 180.0 million, up 8.00 percent year on year.
Merlin Properties stock traded at EUR 12.22 at 1:05 p.m. CEST at Lang & Schwarz on October 14, 2026, 2.00 percent above the Xetra close of October 13, 2026.

Merlin Properties, ES0105025003, Illustration mit AI erstellt.

Merlin Properties (ISIN ES0105025003) received a higher JP Morgan target of EUR 12.00, up from EUR 10.25, in an analyst item carried by Bolsamania. The stock was trading at EUR 12.22 at Lang & Schwarz at 1:05 p.m. CEST on October 14, 2026, 2.00 percent above the Xetra close of October 13, 2026 at EUR 11.98.

Why data centers matter

Merlin's data-center strategy remains the central operating issue behind the valuation discussion. Bolsamania reported on October 5, 2026 that projects exceeding EUR 4.40 billion could be exposed to regulatory requirements affecting Spanish data-center development.

The issue is material because the company is expanding beyond traditional offices, logistics and shopping centers. Merlin's first-half 2026 recurring profit reached EUR 180.0 million, up 8.00 percent from the same period of 2025, while total rental income rose 10.00 percent to EUR 292.0 million, according to EjePrime.

Results show operating momentum

The same first-half report put accounting net profit at EUR 579.0 million, up 13.00 percent year on year, with asset revaluation contributing to the increase. EjePrime also reported that Merlin lifted its full-year 2026 FFO forecast to EUR 340.0 million from EUR 327.0 million, a 3.98 percent increase.

That operating picture provides a counterweight to the regulatory debate. It also explains why the analyst target remains close to the current euro quotation rather than relying solely on a data-center growth scenario.

Three dated Merlin developments

On September 14, 2026, Alicante Plaza reported first-half FFO of EUR 180.0 million and a raised full-year forecast of EUR 340.0 million. On September 16, 2026, EjePrime reported that Javier Echave would become chief financial officer in October. On October 5, 2026, Bolsamania linked the political timetable to data-center regulation and cited more than EUR 4.40 billion of investment projects.

Next reporting date

Alicante Plaza listed November 13, 2026 as the date for Merlin's results covering the first nine months of the year.

Stock trades above the Xetra close

At EUR 12.22, the Lang & Schwarz quote stood 2.00 percent above the Xetra close of October 13, 2026 at EUR 11.98. The current quote is also EUR 3.70 below the 52-week high of EUR 15.92, while the market capitalization was EUR 7.6 billion on October 14, 2026. The further course of trading is shown by the continuously updated real-time quote of Merlin Properties stock.