Analyst coverage

Galp’s share is followed by an increasing number of analysts.

Analysts’ recommendations and price target


This list includes analysts from banks and investment houses who regularly publish studies on Galp’s share.

Due to its dynamic nature, it is not possible to ensure that this list is permanently complete and up to date. The list is displayed for information purposes only and is not a request of purchase, maintenance or sale of shares.

Financial Institution Analyst Target price Recommendation Date
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The institutions mentioned on this page regularly issue opinions on the Galp share performance in the stock market. Any opinions, estimates or forecasts regarding the Galp share performance made by the analysts are of their sole responsibility and do not reflect the opinions of Galp or its administration.

The reference to such information, conclusions or recommendations on this site does not result from any Galp agreement or consent concerning the said opinions. Galp cannot be held accountable for the accuracy of such information, nor does Galp commit to update it, if it is not aware of any changes.

The recommendations of an institution should be taken into consideration in its context, namely in the full text of the analysis on which it is based, in the share price at the time of its publication and considering the range of recommendations used by the institution.


Consensus of the analysts who follow Galp’s share.

The consensus of recommendations, target price and quarterly and medium and long-term results estimates is based on reports of opinions, estimates or forecasts made by analysts from banks and investment houses that cover Galp’s share. For consensus purposes, only recommendations and price targets revised in the past twelve months were considered. 

Recommendations and price target consensus

  Average Maximum Minimum Median
Price target (€) 15.92 20.00 13.00 15.88

Sample: 22 observations

Recommendations (%)


Consensus of the quarterly results (3Q19)

    Maximum Median Average Minimum
Exploration & Production Ebitda (€ m) 448 435 433 414
Ebit (€ m) 313 298 297 281
Refining & Marketing Ebitda (€ m) 138 121 120 99
Ebit (€ m) 45 32 31 5
Gas & Power Ebitda (€ m) 46 37 38 28
Ebit (€ m) 45 34 35 29
Galp Ebitda (€ m) 604 596 594 576
Ebit (€ m) 381 359 362 339
Net income (€ m) 185 140 139 106
EPS (€) 0.22 0.17 0.17 0.13

Note: Replacement cost adjusted (RCA) figures

As of January 1, 2019, Galp adopted the IFRS 16 accounting standards. This consensus only includes estimates that consider the adoption of such standards.

Sample: 15 observations

Consensus of medium and long-term results

    2019 2020
Exploration & Production Ebitda (€ m) 1,700 1,984
Refining & Marketing Ebitda (€ m) 559 763
Gas & Power Ebitda (€ m) 162 151
Galp Ebitda (€ m) 2,484 2,906
Ebit (€ m) 1,559 1,937
Net income (€ m) 696 875
EPS (€ m) 0.84 1.05
Macro Dated Brent price ($/bbl) 66 66

Replacement cost adjusted figures
Average values

Last revision  
More than 3 months 5
Between 1 and 3 months 4
Less than 1 month 13
Sample 22

Last update: 12 August 2019

Additional information