Nordex, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Constantin Hesse from Jefferies maintained a Buy rating on the stock and has a €31.00 price target.
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Constantin Hesse has given his Buy rating due to a combination of factors related to the stability and growth potential in the wind energy sector in Germany. The recent agreement by the German government to maintain ambitious tender volumes for wind and solar energy provides a stable environment for planning and investment, which is crucial for companies like Nordex. This decision removes previous uncertainties about potential slowdowns in the market, thereby offering a positive outlook for Nordex’s future order growth.
Moreover, the strong permitting data, which shows a significant amount of wind energy capacity already permitted, suggests that the auction targets might be conservative. This indicates a robust pipeline for future projects, which is expected to drive Nordex’s performance and create opportunities for profit and loss improvements in the coming years. These factors combined support the Buy rating as they highlight Nordex’s potential for continued growth and profitability in the evolving energy market.
In another report released on November 5, Deutsche Bank also maintained a Buy rating on the stock with a €30.00 price target.