Jefferies analyst Constantin Hesse maintained a Buy rating on Nordex today and set a price target of €25.00.
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Constantin Hesse has given his Buy rating due to a combination of factors that highlight Nordex’s strong financial performance and promising future outlook. The company has recently upgraded its guidance for fiscal year 2025, showcasing a significant improvement in its EBITDA margin expectations, which now stand at 7.5-8.5%, compared to the previous 5-7%. This adjustment indicates a robust 24% upgrade to the consensus estimates for the year.
Despite facing temporary supplier-related delays in Turkey that affected Q3 sales, Nordex’s EBITDA exceeded expectations, and its free cash flow was significantly higher than anticipated. The company has already achieved €298 million in free cash flow for the first nine months of 2025, surpassing the full-year consensus of €260 million. These achievements, driven by solid execution and strong service margins, suggest a positive trajectory for Nordex, justifying the Buy rating.