BofA Sees FY28 Guidance Upside Potential for EDP; Rating Double-upgraded

10:52 AM EDT, 08/18/2026 (MT Newswires) -- BofA Global Research double-upgraded EDP (EDP.LS) to buy from underperform, noting upside potential to the energy group's 2028 guidance. "Management upgraded 2026 guidance for the second time this year, with better performance from asset rotations at the EDPR level, better power prices and performance for flexibility in the integrated business, and better returns and foreign exchange in networks. All these bode well for 2027+, and lift our EDP EBITDA forecasts by >5% and net income by >10% over the next three years," the research firm said Tuesday. "We are now meaningfully above guidance (and pre-results consensus) for 2028, with management committing to a strategic upgrade before 2Q27." The stock's price objective was raised to 5.4 euros from 4 euros. Analysts also now see a "more compelling" medium-term growth for the company, expecting a 4% EPS compound annual growth rate through 2030.