New capital boosts Vestas – Nordea

Wind turbine group Vestas is better placed to defend its top spot in the global market armed with the proceeds of its recent share issue, said investment bank Nordea.

Nordea analysts reiterated their 'buy' rating on Vestas and boosted their target price for the company’s shares by DKr10 to DKr220 (they are trading at about DKr197 today), as they gave their verdict on a significant few days for the Danish group last week.

Vestas raised about €442m ($597m) in a capital raising, which it announced on the eve of its annual report and Q4 results presentation.

Nordea said: “Following its capital injection, Vestas should be better positioned to defend its market-leading position in the turbine industry.

“We believe the capital was necessary to keep Log in to read complete article.

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