Jefferies analyst Constantin Hesse reiterated a Buy rating on Nordex (NRDXF – Research Report) 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 indicating strong growth potential for Nordex. The record level of onshore wind permits in Germany, as reported by the Federal Network Agency, suggests a robust pipeline for future projects. This positive trend is expected to sustain the momentum in upcoming tenders, which aligns with Nordex’s recent performance and projections.
Furthermore, the speed of permit approvals has improved, with decisions being made in an average of 18 months. This efficiency, coupled with Nordex’s record order intake of 2.2GW in the first quarter, supports the expectation of continued high order volumes. With at least another 3GW anticipated from Germany alone, the outlook for Nordex remains promising, justifying the Buy rating.
In another report released on April 10, Deutsche Bank also maintained a Buy rating on the stock with a €19.00 price target.