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IBE.BME
Iberdrola
Utilities · Electric Utilities

Spanish multinational electric utility company with wind, renewable power, grid, and clean energy infrastructure operations.

HQ: SpainListed: Spain

Historical AI Forecasts

Audit every published iPulse AI forecast batch and immutable historical research document for Iberdrola.

Historical AI Forecasts

Iberdrola, S.A. (IBE.BME) AI FORECASTS & ADVISOR ANALYSIS

Read and compare the 11 individual AI Advisor deep-dive reports, including their forecast paths, ratings, price targets, and reasoning.

Updated on 28 November 2025Deep analysis 28 November 2025

PublisherRusslan Ramdowar
25 min readAudit All Past Forecasts

AI Advisor 1 AI

Independent Investor FrameworkAI Researcher

Model rating

Buy

5-Year Return Est.

+70.3%

Includes 4.63% annual net dividend contribution

1. Investment Thesis — Base Case

Iberdrola is positioned to deliver steady, compounding growth driven by its robust networks business (now ~50% of ) and selective renewables expansion. The complete consolidation of Avangrid simplifies the corporate structure and enhances US earnings visibility. We expect the company to meet its strategic plan target of €7.6 billion net profit by 2026, supported by asset rotation and stable regulatory frameworks in key markets (Spain, UK, US, Brazil). While valuation at €18.27 is fuller than historical averages, it is justified by the defensive nature of its regulated assets and superior execution track record. Moderate dividend growth and mid-single-digit earnings expansion support a 'Buy' rating with a balanced risk-reward profile.

Historical prices and published forecast

Historical prices and published forecastObserved prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in EUR.7.0411.8916.7421.5826.43Nov 2020May 2023Nov 2025May 2028Nov 2030Forecast starts
  • Observed price
  • Published advisor forecast
Observed prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in EUR.
View chart values
Historical prices and published forecast — published chart values
SeriesDateValue (EUR)
Observed price2020-11-2411.28
Observed price2020-12-0611.21
Observed price2020-12-1811.41
Observed price2020-12-2211.32
Observed price2021-01-1112.41
Observed price2021-01-1911.82
Observed price2021-02-1210.80
Observed price2021-03-0410.30
Observed price2021-03-1210.75
Observed price2021-03-2010.73
Observed price2021-04-0911.51
Observed price2021-04-2511.58
Observed price2021-04-2911.36
Observed price2021-05-2311.52
Observed price2021-06-0410.61
Observed price2021-06-1610.95
Observed price2021-06-2810.35
Observed price2021-07-0610.57
Observed price2021-07-3010.16
Observed price2021-08-0710.18
Observed price2021-08-2310.67
Observed price2021-09-0410.52
Observed price2021-09-249.22
Observed price2021-10-028.66
Observed price2021-10-229.72
Observed price2021-10-269.89
Observed price2021-10-3010.27
Observed price2021-11-2710.09
Observed price2021-12-179.75
Observed price2021-12-219.90
Observed price2022-01-0210.39
Observed price2022-01-3010.16
Observed price2022-02-119.44
Observed price2022-03-039.07
Observed price2022-03-119.82
Observed price2022-03-239.48
Observed price2022-04-0810.81
Observed price2022-04-1210.48
Observed price2022-04-2811.10
Observed price2022-05-1010.55
Observed price2022-05-2611.29
Observed price2022-06-0710.84
Observed price2022-06-199.80
Observed price2022-07-219.80
Observed price2022-07-2910.43
Observed price2022-08-0210.45
Observed price2022-08-2210.98
Observed price2022-09-1110.76
Observed price2022-09-2310.19
Observed price2022-09-279.79
Observed price2022-10-139.22
Observed price2022-10-259.86
Observed price2022-11-1810.59
Observed price2022-12-1210.99
Observed price2022-12-1610.71
Observed price2022-12-2010.81
Observed price2023-01-0111.01
Observed price2023-01-1710.85
Observed price2023-02-1010.66
Observed price2023-02-2210.93
Observed price2023-03-0210.66
Observed price2023-03-1410.78
Observed price2023-04-0711.76
Observed price2023-04-1511.48
Observed price2023-04-2311.82
Observed price2023-05-1311.80
Observed price2023-05-2511.38
Observed price2023-06-1011.49
Observed price2023-06-3011.95
Observed price2023-07-0412.16
Observed price2023-07-1211.24
Observed price2023-08-0111.16
Observed price2023-08-1710.56
Observed price2023-08-2911.24
Observed price2023-09-0610.69
Observed price2023-09-2610.81
Observed price2023-10-0410.02
Observed price2023-10-2410.41
Observed price2023-11-1711.07
Observed price2023-11-2111.04
Observed price2023-12-1511.76
Observed price2024-01-0811.99
Observed price2024-01-1211.55
Observed price2024-01-1611.55
Observed price2024-02-0910.66
Observed price2024-02-2910.50
Observed price2024-03-0811.08
Observed price2024-03-1610.98
Observed price2024-03-2811.58
Observed price2024-04-0911.10
Observed price2024-05-0311.57
Observed price2024-05-0711.89
Observed price2024-05-1512.36
Observed price2024-06-1612.11
Observed price2024-06-2412.32
Observed price2024-07-2211.71
Observed price2024-07-2612.21
Observed price2024-08-0312.05
Observed price2024-08-2312.69
Observed price2024-08-2712.69
Observed price2024-09-2013.56
Observed price2024-10-1013.53
Observed price2024-10-1813.99
Observed price2024-10-2614.05
Observed price2024-11-0713.11
Observed price2024-12-0513.51
Observed price2024-12-1313.14
Observed price2024-12-2113.03
Observed price2025-01-0613.72
Observed price2025-01-1413.20
Observed price2025-02-0313.68
Observed price2025-02-1513.39
Observed price2025-02-2713.96
Observed price2025-03-1113.75
Observed price2025-04-0415.34
Observed price2025-04-0814.23
Observed price2025-05-0215.79
Observed price2025-05-1415.24
Observed price2025-05-2616.24
Observed price2025-06-0315.92
Observed price2025-06-2316.64
Observed price2025-07-0116.39
Observed price2025-07-2515.35
Observed price2025-07-2915.27
Observed price2025-08-2216.61
Observed price2025-08-2616.18
Observed price2025-09-1915.60
Observed price2025-09-2315.64
Observed price2025-10-1716.95
Observed price2025-10-2117.06
Observed price2025-11-1418.04
Observed price2025-11-2618.27
Observed price2025-12-1217.88
Observed price2025-12-1617.98
Observed price2026-01-0918.90
Observed price2026-01-1318.38
Observed price2026-02-0619.25
Observed price2026-02-2620.2
Observed price2026-03-0619.26
Observed price2026-03-1019.16
Observed price2026-04-0320.3
Observed price2026-04-0720.3
Observed price2026-04-1919.87
Observed price2026-05-0519.74
Observed price2026-05-1719.38
Observed price2026-06-0219.55
Observed price2026-06-2621.7
Observed price2026-06-3021.8
Observed price2026-07-1621.0
Observed price2026-07-2820.9
Observed price2026-08-2120.1
Observed price2026-08-2920.2
Observed price2026-09-0219.66
Observed price2026-09-1620.2
Observed price2026-09-1720.5
Observed price2026-09-1820.3
Published advisor forecast2025-11-2618.27
Published advisor forecast2026-05-2719.15
Published advisor forecast2026-11-2719.86
Published advisor forecast2027-05-2720.4
Published advisor forecast2027-11-2721.0
Published advisor forecast2028-05-2721.7
Published advisor forecast2028-11-2722.3
Published advisor forecast2029-05-2722.9
Published advisor forecast2029-11-2723.5
Published advisor forecast2030-05-2724.2
Published advisor forecast2030-11-2724.8

2. Scenarios & Signals

Bull case

In the bull case, Iberdrola successfully capitalizes on the full integration of Avangrid, realizing synergies faster than anticipated and securing favorable rate cases in the US (NY and ME). A sustained drop in ECB and Fed interest rates lowers financing costs for its capital-intensive pipeline, boosting net beyond the €7.6 billion 2026 target. Accelerated deployment of offshore wind projects in the UK (East Anglia) and the US (Vineyard Wind) faces minimal , while high electricity prices in Europe improve merchant generation spreads. The stock re-rates to a (18x P/E) as it cements its status as the global 'green major', attracting massive ESG inflows.

Bear case

The bear case envisions a resurgence of inflation leading to '' interest rates, significantly increasing and compressing project IRRs. Regulatory headwinds intensify, with potential adverse rulings in US rate cases for Avangrid or renewed in Spain and the UK impacting retained earnings. Execution risks materialize in the offshore wind portfolio, with cost blowouts or delays in the East Anglia or US projects. Furthermore, a drop in wholesale power prices due to or oversupply weighs on the liberalized generation business. The market de-rates the stock to historical lows (12-13x P/E) as growth slows below 3% annually.

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