Report published September 23, 2026
UK & European Research at a Glance – RBC Capital Markets
RBC Capital Markets · September 23, 2026
RBC Capital Markets' UK & European Research at a Glance highlights updates across Grenergy Renovables, West African gold mining, UK financials, and Australian mining price decks. Key rating and target revisions include a price target cut for Grenergy to €130 and an increase for Standard Life to 970p.
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Finvaulta summarizes RBC Capital Markets's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.RBC maintains an Outperform rating on Grenergy Renovables but lowers its price target to €130 (from €150) as asset rotation cuts 2026E-28E EBITDA estimates ~25% below prior views.
- 2.West African gold mining faces rising resource nationalism and security deterioration from JNIM activity in Mali and Burkina Faso, despite remaining one of the fastest-growing gold regions.
- 3.Standard Life's price target is increased to 970p from 885p with a Sector Perform rating, reflecting strong PRT and pension operational improvements and an anticipated £350m recurring share buyback.
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Report data
Key figures extracted from this report
| Metric | Estimate | Context |
|---|---|---|
| Grenergy Renovables Price Target | 130.00 EUR | Lowered price target reflecting heavy asset rotation and reduced EBITDA estimates. |
| Iberian Oasis Project IRR | 11.5% | Project returns on distressed Spanish permits paired with battery storage. |
| Standard Life Price Target | 970 GBp | Increased price target following 1H26 results and operational improvements. |
| Standard Life Recurring Share Buyback | 350 GBP million | Above-consensus expectation for recurring SBB with close to 90% payout ratio. |
| Australian Metals & Mining FY27e EBITDA Revision | -4% | Average EBITDA decline across Australian Metals & Mining coverage driven by lower commodity price assumptions. |
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UK & European Research at a Glance is shown in chronological order through this edition, published on September 23, 2026.
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