HSBC raises target for Galp Energia stock from EUR 20.00 to EUR 23.00

Galp Energia (ISIN PTGAL0AM0009) has an HSBC price target of EUR 23.00, raised from EUR 20.00 on September 25, 2026, while the bank kept its Hold rating, according to Markets Insider. At Lang & Schwarz, the stock was trading at EUR 22.19 on October 2, 2026 at 2:01 p.m. CEST, up 0.77 percent versus the EUR 22.02 prior close.

HSBC lifts the valuation bar

The new target implies 3.65 percent upside from the Lang & Schwarz price. HSBC also raised its Brent oil assumption for 2026 to USD 90.00 per barrel from USD 80.00, a change that supported higher earnings estimates, the same Markets Insider report said.

Berenberg kept a Hold rating and a EUR 22.00 target on September 22, 2026. Its target sits 0.86 percent below the Lang & Schwarz price, creating a sharper contrast with HSBC's revised valuation, according to Markets Insider.

Second-quarter figures set the base

For the quarter ended June 30, 2026, Galp reported revenue of EUR 6.80 billion and net income of EUR 762.0 million. Revenue rose 35.19 percent from EUR 5.03 billion in the comparable quarter, while net income increased 141.90 percent from EUR 315.0 million, according to the same Markets Insider report.

Galp's investor page identifies the second-quarter results as the company's July 27, 2026 reporting event. The company operates across upstream production, refining and trading, commercial energy distribution, and renewable businesses, giving oil prices and refining conditions direct importance for the earnings picture.

Stock stays below its yearly high

Galp's market capitalization was EUR 16.6 billion as of October 2, 2026. Its 52-week range was EUR 13.96 to EUR 23.18, placing the Lang & Schwarz price 4.27 percent below the high. The next scheduled sales and revenue release is October 11, 2026, according to MarketScreener.

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