Morgan Stanley analyst Robert Pulleyn has maintained their neutral stance on DOGEF stock, giving a Hold rating yesterday.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Robert Pulleyn has given his Hold rating due to a combination of factors surrounding Orsted’s recent activities and financial strategies. The company is in the process of selling a significant portion of its Greater Changhua 2A & 2B Taiwan project, which has been reported by Bloomberg and Cathay Life. However, there is some uncertainty as the numbers reported by these sources differ, and Orsted has yet to confirm the transaction officially. This lack of clarity contributes to a cautious outlook.
Additionally, the proceeds from the sale appear to be lower than market expectations based on Orsted’s previous disposal guidance. While the transaction could potentially reduce Orsted’s net debt significantly, the discrepancy in expected versus reported figures introduces an element of risk. Furthermore, the completion of this sale is crucial for advancing Orsted’s broader disposal plan aimed at strengthening its balance sheet. Given these mixed signals and pending confirmations, a Hold rating reflects a balanced view of the potential risks and rewards associated with Orsted’s current financial maneuvers.
Pulleyn covers the Utilities sector, focusing on stocks such as Orsted, Endesa SA, and Enel S.p.A.. According to TipRanks, Pulleyn has an average return of 2.6% and a 54.72% success rate on recommended stocks.
In another report released yesterday, J.P. Morgan also maintained a Hold rating on the stock with a DKK140.00 price target.