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Investing.com - RBC Capital has raised its price target on Iberdrola SA (BME:IBE) (OTC:IBDRY) to EUR16.70 from EUR15.50 while maintaining a Sector Perform rating on the stock. The utility giant, currently trading at $75.47 and boasting a market capitalization of $125.56 billion, has seen its shares surge over 41% year-to-date.
The price target increase comes ahead of Iberdrola’s Capital Markets Day scheduled for September 24, where RBC expects the company to maintain its long-term net income growth outlook in the mid-to-high single-digit range. According to InvestingPro analysis, the company maintains a GOOD financial health score, though current valuations suggest the stock is trading above its Fair Value.
RBC estimates Iberdrola’s net income growth at 5.4% for the 2025-31 period, but projects earnings per share growth of approximately 5% during the same timeframe.
Despite Iberdrola’s superior growth prospects, RBC notes that the stock is currently trading at a premium compared to its historical average, which factors into the maintained Sector Perform rating.
RBC also mentions that its earnings per share estimates for Iberdrola are approximately 3% below consensus, further supporting its neutral stance on the stock despite the higher price target.
In other recent news, Avangrid, Inc. has announced significant leadership changes within its organization. Joe Purington has been appointed as the CEO of Avangrid Networks, while Sy Oytan will take on the role of CEO for Avangrid Power. These appointments are effective immediately. This leadership restructuring follows the recent appointment of former Avangrid CEO Pedro Azagra as the CEO of parent company Iberdrola, S.A. Consequently, Jose Antonio Miranda has assumed the position of CEO at Avangrid. These changes reflect a strategic move in the company’s leadership, possibly aimed at aligning with new corporate objectives under Iberdrola’s direction.
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