Analyst Constantin Hesse from Jefferies maintained a Buy rating on Nordex and keeping the price target at €25.00.
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Constantin Hesse has given his Buy rating due to a combination of factors that suggest Nordex’s stock remains attractive despite potential challenges. The potential slowdown in Germany’s renewable energy expansion, as hinted by Chancellor Merz, could impact market sentiment. However, Nordex’s current valuation appears favorable, with metrics like 9x EV/EBIT and 6x EV/EBITDA for 2026 indicating an undemanding position.
Furthermore, scenario analyses indicate that the downside risk is limited, especially since current market consensus is more conservative than anticipated. This suggests that even with a potential reduction in Germany’s onshore wind targets, Nordex is well-positioned to maintain its market standing, supporting the Buy recommendation.