JPMorgan is putting the development strategy of DEC at the heart of the €4 billion capital increase the group is launching.
JPMorgan, in a May 1, 2026 report with Anna Antonova as analyst, maintains a positive recommendation on the stock with a price target of €21 with a December 2027 horizon, noting that after the announcement of the planned increase, he has had more than 30 contacts with international investors on the transaction and CMP’s new business plan.
The key element of the analysis is that PPC is changing scale. The new 2026 to 2030 plan, announced just a few months after the previous strategic update in November 2025, raises the bar significantly on generating capacity, renewables, operating profit and net profitability.
The group’s installed capacity is projected to rise from 12.4 GW in 2025 to 24.3 GW in 2030, with renewable capacity placed at 18.8 GW at the end of the period. In other words, PPC plans not just to boost its portfolio, but to nearly double its presence in power generation, with a clear shift to green and flexible plants.
The change is reflected even more clearly in financials. Adjusted operating profit is expected to reach €4.6 billion. in 2030, up from €2 billion in 2025,with an average annual growth rate of 18%. Adjusted net profit attributable to shareholders is projected at €1.5 billion in 2030, up from €450 million in 2025,with an average annual growth rate of 27%.
For 2028, the new operating profit target is increased to €3.3 billion, from €2.9 billion in the previous plan, while net profit rises to €1 billion, up from €900 million
.
