Jefferies analyst Constantin Hesse maintained a Buy rating on Nordex today and set a price target of €21.00.
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Constantin Hesse has given his Buy rating due to a combination of factors, including Nordex’s impressive performance in the second quarter. The company reported a record-breaking order intake, significantly surpassing market expectations by approximately 15% and showing an 82% increase compared to the same quarter in the previous year. This achievement underscores Nordex’s strong pricing discipline and its ability to maintain stable average selling prices, which is a positive indicator for the company’s financial health.
Furthermore, the continued positive momentum in order intake is expected to persist, as indicated by the CEO’s comments. Nordex is on track to exceed its previous record order intake of 8.3GW, positioning itself favorably to achieve its medium-term EBITDA margin target of 8% by 2026. This outlook suggests that Nordex is likely to outperform, providing a solid basis for the Buy rating.
In another report released on July 7, Deutsche Bank also maintained a Buy rating on the stock with a €20.00 price target.