02:46 AM EDT, 05/14/2026 (MT Newswires) -- Deutsche Bank Research revised its earnings estimates for E.ON (EOAN.F), reflecting the German energy company's "strong"first-quarter results.

In a Wednesday note, the research firm said E.ON's first-quarter adjusted group net income of 1.34 billion euros surpassed consensus and Deutsche Bank's own forecasts by 5%.

"Our prior estimates were at the top end of the 2026 adjusted net income range of EUR2.7-2.9bn and significantly ahead of 2030 consensus/guidance. We now see scope for E.ON to slightly beat the 2026 guidance and lift net income by c.EUR0.1bn (4%) to EUR3.0bn. Our estimate is 6% ahead of Bloomberg consensus. For 2027, we slightly lower our estimate to reflect a negative earnings impact from Ovo Energy, partially offset by higher results from non-German networks. Our 129c EPS estimate is 5% ahead of consensus. In 2030, we lift EPS from 158c to 163c (3%). This reflects earnings enhancement from Ovo Energy, higher results from non-German networks... our 2030 EPS is 10% ahead of consensus and well above the pre-Ovo Energy 145c guidance,"the note said.

The stock's buy rating was maintained, with a price target of 20.50 euros.