OTP raises target for PannErgy stock to HUF 3,107

Published on 10/09/2026 at 13:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

PannErgy confirmed HUF 4.30-4.45 billion EBITDA for 2026. PannErgy stock costs EUR 7.79 on October 9, 2026 versus EUR 7.70, plus 1.17 percent.

Key points in brief

OTP raised its 12-month PannErgy target from HUF 3,057 to HUF 3,107 on October 7, 2026.
PannErgy confirmed a 2026 EBITDA target range of HUF 4.30 billion to HUF 4.45 billion.
The stock was at EUR 7.79 at Lang & Schwarz on October 9, 2026, plus 1.17 percent versus EUR 7.70.
The first dividend installment is scheduled for October 15, 2026.

PannErgy, HU0000089867, Illustration mit AI erstellt.

PannErgy stock (ISIN HU0000089867) was trading at EUR 7.79 at Lang & Schwarz on October 9, 2026 at 1:29 p.m. CEST, up 1.17 percent versus the EUR 7.70 prior close. OTP had raised its 12-month target from HUF 3,057 to HUF 3,107 in an analysis dated October 7, 2026, as Portfolio reported on October 8.

Three milestones shape the outlook

On September 21, 2026, PannErgy reported first-half revenue of HUF 4.375 billion, up 6.00 percent from HUF 4.129 billion a year earlier, according to Portfolio. On October 1, 2026, the company confirmed its 2026 EBITDA target range of HUF 4.30 billion to HUF 4.45 billion after regulated heat tariffs took effect, as Portfolio reported. On October 7, OTP lifted its target to HUF 3,107 from HUF 3,057.

What do tariffs mean for earnings?

The tariff reset creates mixed price effects across PannErgy's systems. The October 7 analysis from Portfolio said the annual earnings effect should remain limited because regulated pricing also reflects costs. Miskolc's fixed tariff rose 8.00 percent, while its volume-based tariff fell 6.30 percent; Gy?r's volume-based tariff fell 15.30 percent.

The first-half profit figures explain why the target was increased despite the tariff changes. Net profit reached HUF 619 million, compared with HUF 353 million a year earlier, while EBITDA was HUF 1.661 billion versus HUF 1.672 billion. Revenue growth and the profit increase therefore came with a nearly unchanged operating cash earnings base in the period.

Dividend dates add a near-term event

OTP's analysis says PannErgy is scheduled to pay the first installment of its 2025 dividend on October 15, 2026, at HUF 63.40 per share. The second installment is scheduled for March 8, 2027, at HUF 74.60 per share, according to OTP Bank.

Stock trades at EUR 7.79

PannErgy was trading at EUR 7.79 at Lang & Schwarz on October 9, 2026 at 1:29 p.m. CEST, up 1.17 percent versus the EUR 7.70 prior close dated October 8, 2026. The target increase, the confirmed EBITDA range and the upcoming dividend payment give the stock three measurable reference points for the October valuation.

The further course of trading is shown by the continuously updated real-time quote of PannErgy stock.