Barclays upgraded its recommendation for Iberdrola to overweight ahead of the utility's General Shareholders' Meeting. The bank raised its share price target by 33% to 22.6 euros. Analysts now position the Spanish firm as a benchmark stock within the European energy sector.
The upgrade reflects Iberdrola's strategic positioning to capture rising energy demand from data centers and artificial intelligence. Barclays cited a growing focus on energy supply security in Europe and the U.S. as a key growth driver. The company's shift toward regulated electricity grids provides enhanced revenue visibility.
Iberdrola shares rose 1.37% to 20 euros following the announcement. The stock ranked among the top performers on the Ibex 35 index.