EnergyWatch

UBS forecasts sound growth and increasing margins for Vestas

UBS is initiating coverage of the Danish wind turbine share with a BUY recommendation and a price target of DKK 535, 37 percent higher than Monday's DKK 389.70 closing price.

Photo: Vestas

Swiss major bank UBS has forecast smooth waters for Vestas in the coming years. The Danish wind turbine manufacturer will not just maintain its position as the largest turbine manufacturer within offshore, but also see sound growth and gradual margin increases.

Should this hold, Vestas has prospects of a sound boost in earnings, which also gives it more value in the eyes of UBS. The bank has initiated coverage of the Danish wind turbine share with a BUY recommendation at DKK 535 (EUR 71.8) price target, 37 percent higher than Monday's DKK 389.70 closing price.

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