In this article, we will list the 5 Best European Stocks That Beat Earnings Estimates to Buy. Please visit 10 Best European Stocks That Beat Earnings Estimates to Buy if you would like to see the extended list and the methodology behind it.
5. Lloyds Banking Group plc (NYSE:LYG)
On April 30, 2026, UBS upgraded Lloyds Banking Group plc (NYSE:LYG) to Buy from Neutral and raised its price target to 115 GBp from 110 GBp previously. The firm described the business as “growing strongly” while trading at an undervalued level.
On April 29, 2026, Lloyds Banking Group plc (NYSE:LYG) reported Q1 EPS of 2.4p versus 1.7p last year and underlying net interest income of GBP 3.569B compared to GBP 3.294B. CEO Charlie Nunn said the group delivered “sustained strength” in financial performance, with income growth, cost discipline, and strong profitability, while maintaining a resilient business model amid economic uncertainty and reiterating its 2026 outlook.
The company continues to expect underlying net interest income above GBP 14.9B, a cost income ratio below 50%, an asset quality ratio of about 25 basis points, return on tangible equity above 16%, capital generation above 200 basis points, and a CET1 ratio of around 13.0%.
Lloyds Banking Group plc (NYSE:LYG) provides banking and financial services to retail and commercial customers in the United Kingdom.
4. Nokia Oyj (NYSE:NOK)
On April 29, 2026, Arete upgraded Nokia Oyj (NYSE:NOK) to Buy from Neutral with a EUR 10.60 price target. The firm noted the shares have re-rated on exposure to hyperscale data center spending, while AI and cloud accounted for 8% of Q1 sales.
Argus analyst Jim Kelleher also upgraded Nokia Oyj (NYSE:NOK) to Buy from Hold with a $15 price target following the Q1 report. Jim Kelleher cited AI-driven demand and a higher 2026 revenue growth outlook for the Network Infrastructure segment, adding that Mobile Networks has been stable and could begin to grow with rising AI data center traffic.
On April 23, 2026, Nokia Oyj (NYSE:NOK) reported Q1 comparable EPS of EUR 0.05 versus EUR 0.03 last year and revenue of EUR 4.5B compared to EUR 4.39B, with comparable net sales up 4%. The company said it delivered a “solid start,” with strong demand in AI & Cloud, where net sales rose 49% and accounted for 8% of group sales, alongside EUR 1B in orders. Network Infrastructure grew 6%, including 20% growth in Optical Networks, while Fixed Networks declined 13% as part of a shift toward higher-margin products. Nokia expects FY26 comparable operating profit of EUR 2B to EUR 2.5B, capital expenditures of EUR 900M to EUR 1B, and a comparable income tax rate of 26% to 27%, with higher capex tied to Optical Networks capacity and real estate projects.
Nokia Oyj (NYSE:NOK) provides mobile, fixed, and cloud network solutions across global markets.
3. NatWest Group plc (NYSE:NWG)
On May 1, 2026, NatWest Group plc (NYSE:NWG) reported Q1 EPS of 17.9p compared to 15.5p last year, with total income of GBP 4.36B, pretax profit of GBP 2B, a net interest margin of 2.47%, and a CET1 ratio of 14.3%. CEO Paul Thwaite said results reflect “strong performance,” with total income excluding notable items of GBP 4.2B and operating profit of GBP 2.0B, both higher year over year, alongside a return on tangible equity of 18.2%. Paul Thwaite also pointed to “positive momentum” supported by customer activity, growth across all three businesses, expanded capabilities, and productivity gains from using AI at scale.
NatWest Group plc (NYSE:NWG) said it now expects FY26 income excluding notable items to be at the top end of its GBP 17.2B to GBP 17.6B range based on current assumptions, while reaffirming the rest of its outlook and noting uncertainty in market conditions.
Prior to the earnings release, Keefe Bruyette has downgraded NatWest Group plc (NYSE:NWG) to Market Perform from Outperform previously, with a 650 GBp price target on the shares.
NatWest Group plc (NYSE:NWG) provides banking and financial services in the United Kingdom and internationally.
2. Garmin Ltd. (NYSE:GRMN)
On April 30, 2026, Morgan Stanley lowered its price target on Garmin Ltd. (NYSE:GRMN) to $249 from $252 and maintained an Equal Weight rating. The firm said Q1 results were modestly ahead of expectations, with Fitness continuing to stand out, and noted potential upside risk to estimates for the year.
On April 29, 2026, Garmin Ltd. (NYSE:GRMN) reported Q1 adjusted EPS of $2.08 versus $1.84 consensus and revenue of $1.75B compared to $1.71B expected. Chief Executive Officer Cliff Pemble has said that the company delivered “remarkable financial results,” reflecting strong demand across its product lineup and its diversified business model. Garmin has reaffirmed its FY26 pro forma EPS outlook of $9.35 versus $9.39 consensus and revenue guidance of about $7.9B compared to $7.98B expected.
Prior to the earnings release, JPMorgan has raised its price target on Garmin Ltd. (NYSE:GRMN) to $285 from $265 previously and kept a Neutral rating on the shares as part of a broader Q1 preview.
Garmin Ltd. (NYSE:GRMN) designs and sells GPS-enabled navigation, communication, and fitness-related products globally.
1. nVent Electric plc (NYSE:NVT)
On May 4, 2026, Roth Capital raised its price target on nVent Electric plc (NYSE:NVT) to $185 from $135 and maintained a Buy rating after a strong Q1 performance. The firm cited an earnings beat, better-than-expected Q2 guidance, and a higher 2026 outlook, driven by accelerating AI data center demand, solid organic growth, and a growing backlog that improves visibility into 2026.
RBC Capital analyst Deane Dray also lifted the price target to $180 from $151 with an Outperform rating, pointing to a 15% operating earnings beat, and a 2026 EPS outlook raised 7% above consensus, alongside a doubling of organic sales guidance supported by data center, liquid cooling, and power utility momentum.
UBS analyst Neal Burk raised the price target to $200 from $164 and kept a Buy rating, citing favorable end-market exposure and continued execution. Barclays analyst Julian Mitchell increased the price target to $190 from $150 with an Overweight rating, noting the Q1 beat and saying the company’s “high growth” profile could support a valuation re-rating.
On May 1, 2026, nVent Electric plc (NYSE:NVT) reported Q1 adjusted EPS of $1.09 versus 64c consensus and revenue of $1.2B compared to $1.11B expected. CEO Beth Wozniak said the company delivered a “tremendous start,” with record sales and orders and backlog rising to $2.6B, supported by growth across all verticals led by data center demand.
nVent Electric plc (NYSE:NVT) provides electrical connection and protection solutions across global markets.
While we acknowledge the potential of NVT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVT and that has 100x upside potential, check out our report about the cheapest AI stock.
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