1209 GMT - Vestas has limited ability to surprise positively in 2025, Deutsche Bank analyst John Kim writes. First-quarter order intake is flattered by strong offshore results, while onshore orders seem to have missed due to weakness in the Americas, he says. Deutsche Bank expects the first quarter to miss on profitability. Orders should be driven by offshore, which is positive for average selling prices but margin dilutive due to offshore profitability levels. "We don't think the share can meaningfully appreciate until we find a floor on onshore orders and Vestas makes demonstrable progress on offshore execution and profitability." It downgrades Vestas to hold from buy and lowers its target price to 110 Danish kroner from 150 kroner. Shares fall 5.8% to 83.56 kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 08:09 ET (12:09 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。