03:21 AM EDT, 05/14/2026 (MT Newswires) -- RWE's (RWE.F) strong first-quarter results support an upgrade in full-year guidance, Barclays said Wednesday after the German energy company reiterated its outlook.

For the three months ended March 31, adjusted EBITDA of 1.63 billion euros matched the company-collected consensus, adjusted net income of 608 million euros was 0.5% ahead of expectations, and net debt of 15.6 billion euros was in line with the research firm's estimate.

"In our view, the 2026 guidance now looks clearly conservative, with 1Q26 adj. net income of EUR608m already representing around 34% of the midpoint of FY26 adj. net income guidance (EUR1,550m--EUR2,050m),"analysts said. "This leaves RWE well positioned to outperform full-year expectations (a big driver being a EUR332m 1Q26 one-off benefit in flexible generation from RWE's Dutch legal settlement), a point effectively acknowledged by management in highlighting that ~33% of FY EPS guidance was achieved in the first quarter alone."

The stock's overweight rating was reiterated with a price target of 66 euros. Analysts continue to anticipate "meaningful"upside potential to their price target and "superior"catalysts in the next few months. Additionally, RWE is seen as a "key beneficiary"of European data center expansion.