Orsted downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded Orsted (DNNGY) to Neutral from Buy with a price target of DKK 445, down from DKK 520. The change in control in the U.S. could impact the economics of offshore wind, the analyst tells investors in a research note. The firm says amendments to tax credits or the potential introduction of tariffs on imported equipment might trigger further execution delays and/or incremental costs, which could lead to more impairments at Orsted.