Positive Outlook for Nordex: Strong Order Pipeline and Attractive Valuation

Constantin Hesse, an analyst from Jefferies, reiterated the Buy rating on Nordex (NRDXF – Research Report). The associated price target was raised to €21.00.

Constantin Hesse has given his Buy rating due to a combination of factors that suggest a positive outlook for Nordex. The company is expected to have a strong start in 2025, with anticipated orders of at least 1.5GW, which indicates a robust demand for its products. Additionally, there is an expected sequential improvement in profitability, which further supports the positive sentiment.
Moreover, recent announcements from Finland and Turkey have alleviated concerns about a slower start in orders. The potential for additional orders from the 10.9GW of tendered volumes in Germany since August also contributes to the optimistic view. The recent pullback in stock price offers an attractive entry point for investors, especially given the solid order outlook and Nordex’s limited exposure to the US market.

In another report released today, Goldman Sachs also maintained a Buy rating on the stock with a €22.60 price target.