ElvalHalcor gets EU project labels and NBG targets ElvalHalcor stock at EUR 5.10

Published on 10/18/2026 at 13:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Two EU project labels were announced on October 15, 2026. ElvalHalcor stock has a EUR 5.10 target after EUR 3.20 and keeps its Outperform rating.

EU projects and valuation

Two EU Strategic Projects were selected on October 15, 2026.
NBG Securities raised its target to EUR 5.10 from EUR 3.20 on September 30, 2026.
ElvalHalcor's 9M 2026 trading update is scheduled for November 18, 2026.

ElvalHalcor, GRS281003004, Illustration mit AI erstellt.

ElvalHalcor (ISIN GRS281003004) was selected for two EU Strategic Projects on October 15, 2026, giving its recycling and industrial investment plans a fresh policy link. ElvalHalcor listed the projects in its latest company update.

The valuation case is also more ambitious than it was earlier in the year. According to OT on September 30, 2026, NBG Securities raised its target to EUR 5.10 from EUR 3.20 and kept its Outperform rating. The increase equals 59.38 percent based on those two targets.

Three dated company developments

The recent sequence is concrete. On July 22, 2026, 59,523,810 new shares from the EUR 250.00 million capital increase began trading, according to xrimatistirio.com. On September 24, 2026, the company announced a merger plan for its 100 percent-owned Anoxal subsidiary, with completion expected in the fourth quarter of 2026, according to ElvalHalcor. The October 15, 2026 EU project selection is the latest event in that chronology.

What does the EUR 5.10 target imply?

NBG Securities ties the higher target to ElvalHalcor's 2026-2030 investment program and the first-half operating performance. Adjusted EBITDA reached EUR 143.30 million in the first half of 2026, while aluminum sales volume was 227,000 metric tons and copper sales volume was 91,000 metric tons, figures reported by xrimatistirio.com. The same investment thesis points to planned aluminum capacity of 679,000 metric tons versus 478,000 metric tons today, while copper capacity is projected at 303,000 metric tons versus 283,000 metric tons.

Upcoming reporting dates

The next company milestones are the 9M 2026 trading update on November 18, 2026 and the related analyst briefing on November 19, 2026, according to the ElvalHalcor investor-relations page. Those dates should clarify how the investment cycle is progressing after the first-half figures.

Stock context for investors

The last available Athens quote was EUR 3.48 on October 16, 2026 at 5:18 p.m. EEST on the Athens Stock Exchange. The 52-week range was EUR 2.98 to EUR 5.85, while market capitalization stood at EUR 1.3 billion on October 16, 2026. The further course of trading is shown by the continuously updated real-time quote of ElvalHalcor stock.