Citi downgraded Orsted (DNNGY) to Sell from Neutral with a price target of DKK 211, down from DKK 300. The firm is concerned about Orsted’s balance sheet, saying the company is selling operating cash flows to fund U.S. projects and “cancelling value-creating projects” such as Hornsea 4. The uncertain outlook on the U.S. warrants a higher risk premium, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DNNGY: