Analyst Constantin Hesse of Jefferies maintained a Buy rating on Nordex, retaining the price target of €25.00.
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Constantin Hesse has given his Buy rating due to a combination of factors including Nordex’s strong financial performance and strategic outlook. The company confirmed robust preliminary results for the third quarter, with profitability exceeding expectations despite sales being impacted by temporary supplier delays in Turkey. This was largely due to effective project execution and improved service margins.
Additionally, Nordex’s upgraded guidance, with an EBITDA margin target now set at 7.5-8.5%, aligns with its medium-term goals, previously expected to be reached by 2026. The company also reported strong free cash flow and record net cash levels, alongside a significant order backlog, which provides solid visibility for future growth. Management’s optimism about continued order momentum, particularly from Europe, further supports the positive outlook for Nordex’s stock.
In another report released on October 29, Deutsche Bank also maintained a Buy rating on the stock with a €28.00 price target.