JPMorgan, Citi say Metlen growth drivers on track after trading update

Investing.com · Sam Boughedda · 2026-11-06 15:20 UTC

JPMorgan, Citi say Metlen growth drivers on track after trading update

Investing.com -- JPMorgan and Citi said in notes on Friday that Metlen Energy & Metals’ (LON: MTLN) key medium-term growth drivers remain on track after the company’s nine-month trading update on Thursday.

Metlen reported record nine-month revenue of €6.2 billion, up 21%, and reaffirmed its 2026 EBITDA guidance of €1.00 billion to €1.15 billion, along with its medium-term EBITDA target of €1.92 billion to €2.08 billion. The update came despite a 44-day outage at its largest gas-fired power plant.

JPMorgan described the third quarter as relatively strong despite the extended shutdown, and estimated that the nine-month figures were broadly in line with expectations.

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