ANALYSTS COVERAGE Home Investors Analysts Coverage Share The Consensus expressed by the analysts from the leading national and international brokerage houses which provide coverage of the Terna share Brokers Coverage As of 16 November 2021 Broker Analyst Target Price (€) Recommendation Date BANCA AKROS GABRIELE GAMBAROVA 7.00 ACCUMULATE 13 May 2021 BANCA IMI ROBERTO RANIERI 7.40 ADD 15 November 2021 BARCLAYS JOSE RUIZ FERNANDEZ 6.70 EQUAL-WEIGHT 15 November 2021 BERNSTEIN MEIKE BECKER 7.80 OUTPERFORM 10 November 2021 BERENBERG LAWSON STEELE 6.00 HOLD 04 June 2020 BOFA MERRIL LYNCH HARRY WYBURD 8.50 BUY 29 July 2021 CITIGROUP ANTONELLA BIANCHESSI 7.80 BUY 15 November 2021 CREDIT SUISSE STEFANO BEZZATO 5.90 UNDERPERFORM 15 November 2021 DEUTSCHE BANK JAMES BRAND 7.50 BUY 15 November 2021 EQUITA STEFANO GAMBERINI 7.10 BUY 15 November 2021 EXANE-BNP PARIBAS MANUEL PALOMO 6.00 UNDERPERFORM 15 November 2021 GOLDMAN SACHS* ALBERTO GANDOLFI - - - INTERMONTE FEDERICO PEZZETTI 6.70 NEUTRAL 11 November 2021 JP MORGAN JAVIER GARRIDO 6.27 NEUTRAL 15 November 2021 KEPLER CHEUVREUX EMANUELE OGGIONI 7.00 HOLD 15 November 2021 MEDIOBANCA JAVIER SUAREZ 6.50 NEUTRAL 15 November 2021 MORGAN STANLEY CHRISTOPHER LAYBUTT 5.90 UNDERWEIGHT 15 November 2021 ROYAL BANK OF CANADA ALEXANDER WHEELER 6.00 UNDERPERFORM 15 November 2021 SANTANDER VIRGINIA SANZ DE MADRID 7.10 BUY 28 July 2021 SOCIETE GENERALE BARTLOMIEJ KUBICKI 7.40 BUY 15 November 2021 STIFEL ENRICO BARTOLI 7.30 BUY 15 November 2021 * The broker does not allow to share target price and recommendation Brokers Recommendations as of 16.11.2021 6 NEUTRAL POSITIVE NEGATIVE TERNA IS THE FIRST GRID OPERATOR FOR ELECTRICITY TRANSMISSION IN EUROPE. WE PROMOTE THE ENERGY TRANSITION AND SUSTAINABLE DEVELOPMENT BY FOCUSING ON PEOPLE AND INNOVATION. We work every day to build an atmosphere of dialogue and trust in local areas, to which we bring a vital asset for everyone’s economic and social lives: electricity. > FIND OUT MORE Useful links CALENDAR GENERAL ARCHIVE CERT REAL ESTATE ASSETS ACCESSIBILITY PRIVACY COOKIE DECLARATION LEGAL NOTICE INSERT CV Portals PURCHASES SUPPLIERS QUALIFICATION GAUDI GSTAT ENERGY DISTRIBUTORS MY TERNA TITOLARI RTN OUR SITES: OPEN AND TRANSPARENT SETTLEMENT CERTIFICATION WHISTLEBLOWING TERNA PLUS TERNA S.p.A. - Capitale sociale € 442.198.240 interamente versato - Sede Legale in Italia, Viale Egidio Galbani, 70 - 00156 Roma - Tel +39 06 83138111 Registro delle Imprese di Roma - Codice fiscale e Partita IVA 05779661007 - R.E.A. di Roma 922416