Analyst Elizabelle Pang of DBS maintained a Buy rating on Orsted (DOGEF – Research Report), retaining the price target of DKK500.00.

Elizabelle Pang’s rating is based on several compelling factors that support a positive outlook for Orsted. The company reported a solid EBITDA performance for the third quarter of 2024, which aligns with market expectations. This financial stability is bolstered by Orsted’s strategic positioning in the European energy transition, where it holds a significant leadership stance in offshore wind energy. The company’s extensive experience and operational success in this field position it well to capitalize on the increasing investments in renewable energy across Europe.
Furthermore, Orsted’s proactive asset recycling initiatives are anticipated to act as positive catalysts for its growth. These activities, alongside management’s commitment to achieving substantial proceeds from asset recycling over the next few years, reinforce the company’s financial strategy. While potential risks from U.S. policy changes are acknowledged, Orsted’s current trading valuation and its strategic initiatives are expected to mitigate these concerns, thus supporting the Buy rating with a target price of DKK500.

In another report released yesterday, UBS also maintained a Buy rating on the stock with a DKK520.00 price target.

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Ørsted A/S engages in the provision of renewable energy solutions. It operates through the following business segments: Wind Power, Bioenergy & Thermal Power, Distribution & Customer Solutions and Other Activities. The Wind Power segment develops, constructs, owns, and operates offshore wind farms in Denmark, the UK, Germany, the Netherlands, USA, and Taiwan. The Bioenergy & Thermal Power segment includes the generation of heat and power from combined heat and power plants in Denmark, a gas fired power plant in the Netherlands, and a Renescience plant in the UK. The Distribution & Customer Solutions segment consists of power distribution and sale of power and gas in the wholesale and retail markets in Denmark, Sweden, Germany, and the UK, as well as optimization and hedging of its overall energy portfolio. The company was founded on March 14, 2006 and is headquartered in Fredericia, Denmark.