Citi
May 26, 2026
The Point for Europe
Market ReportCommoditiesEquitiesMacro Economic IndicatorsConsumer DiscretionaryConsumer Staples
This report summarizes European equity and macro highlights, focusing on massive BESS capacity growth, Uber's interest in Delivery Hero, and a bullish upgrade to aluminium price forecasts.
Key Takeaways
- 1.Battery Energy Storage Systems (BESS) capacity in Europe is projected to quadruple by 2030, reaching 180GW.
- 2.Uber has made takeover approaches for Delivery Hero (DHER) at valuations between €33 and €38 per share.
- 3.Citi has upgraded its aluminium price outlook to $4,000/t for 2H'26, citing persistent ex-China market tightness.
Table of Contents
- Top Call
- Company
- Must Read
- Industry
- Strategy & Economics
- Key Rating and Target Price Changes
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Authors
Andrew Lowe, CFAPiotr DzieciolowskiEphrem Ravi
Securities
DHER.DENHY.OLS32.LUber
Themes
Commodity Super-cycle / TightnessConsolidation in Food DeliveryEnergy Transition Infrastructure
Regions
EuropeMiddle EastUnited KingdomRomaniaGermany