JPMorgan belässt Vestas auf 'Neutral' - Ziel 151 Kronen () from

JPMorgan keeps Vestas at 'Neutral' - target DKK 151

JPMorgan keeps a 'Neutral' rating on Vestas shares, with a target price of DKK 151 after the company reported its first quarter 2023 results on Wednesday.

Vestas' revenue in the first quarter fell by 15% year-over-year to EUR 2.89 billion, while its earnings before interest, taxes, depreciation, and amortisation (EBITDA) dropped by 41% to EUR 233 million. This was mostly due to a one-off charge of EUR 414 million related to the impairment of wind turbine projects in Russia and Ukraine.

Despite the weaker results, JPMorgan said that it remains positive on Vestas' long-term prospects. The bank believes that the company is well-positioned to benefit from the growing demand for renewable energy, and that its cost-cutting measures will help it to improve its profitability in the future.

JPMorgan's 'Neutral' rating on Vestas is in line with the consensus view of analysts, according to data compiled by Bloomberg. The average target price for Vestas shares is DKK 152.50, with a range of DKK 120.00 to DKK 180.00.

Vestas shares are currently trading at around DKK 144, which is below JPMorgan's target price. The stock has fallen by around 15% since the start of the year, as investors have been concerned about the impact of the war in Ukraine on the company's business.

Despite the recent weakness in the share price, JPMorgan believes that Vestas is a long-term buy. The bank said that the company's "strong market position, cost-cutting measures, and long-term growth prospects make it a compelling investment for investors with a long-term horizon."

Here are some of the key takeaways from JPMorgan's research note on Vestas:

The bank believes that Vestas' long-term growth prospects are intact, despite the challenges in the near term.
The bank expects Vestas to benefit from the growing demand for renewable energy, as well as its cost-cutting measures.
The bank's target price for Vestas shares is DKK 151, which is in line with the consensus view of analysts.

Investors should note that all investments carry some degree of risk, and that past performance is not a guarantee of future results. Before making any investment decisions, investors should carefully consider their own financial situation and investment objectives, and consult with a qualified financial advisor.