Elia Group initiated with a Buy at Jefferies

Jefferies initiated coverage of Elia Group (ELIAF) with a Buy rating and EUR 135 price target Elia is well-positioned to execute its ambitious growth strategy without compromising balance sheet stability, the analyst tells investors in a research note. In 2026, the firm also expects greater clarity on the framework for the next regulatory period as Germany is preparing a major overhaul for the period beginning in 2029, including a shift to annual cost-plus reviews, alignment of capital cost with EU norms, and the introduction of incentives to support the energy transition, Jefferies added.