04:20 AM EDT, 05/01/2026 (MT Newswires) -- AlphaValue/Baader Europe upgraded its rating and price target for Engie (ENGI.PA) as the French utility enters talks to sell its nuclear operations in Belgium to the state.

"We upgrade ENGIE to [add from reduce], following the prospect of Belgium's nuclear exit, which we believe will provide a meaningful balance sheet relief for ENGIE, particularly on decommissioning provisions. We have therefore removed the 10% discount we had previously applied relative to the peer group of integrated power utilities,"the research firm said Thursday, as it lifted its price target by 16.6% to 34.8 euros.

In a release earlier that same day, Engie said it signed a letter of intent to begin exclusive negotiations regarding a potential deal with the Belgian state covering seven nuclear reactors, alongside the assumption of decommissioning liabilities, among others.

On the financial front, analysts project 73.24 billion euros in sales for Engie in full-year 2026, with an adjusted EPS of 1.93 euros and a dividend of 1.32 euros.