The consensus price target of all analysts covering the stock points to an upside of more than 50%.
Shares of Vestas Wind Systems tanked on the news that Donald Trump had won the 2024 presidential election. Investors dumped shares of the world's largest wind turbine maker as Trump has vowed to curtail renewable energy subsidies and favors the oil and gas sector. Other European renewable energy firms, such as wind farm operator Orsted , also fell. However, analysts at a number of investment banks have suggested that investors overreacted to fears of a downturn for the sector.
line "Donald Trump's victory and a republican sweep in Congress is the worst political outcome in the USA for Vestas," said Jacob Pedersen, head of stock analysis at Sydbank, a Danish investment bank. "But this does not necessarily convert into the worst legislation-scenario or the very negative earnings-scenario that the Vestas share reflects right now.
Joe Biden Vestas Wind Systems A/S Vestas Wind Systems A/S Orsted A/S Orsted A/S Vestas Wind Systems A/S Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysts Warn Not to Put 'Too Much Stock' Into Trump's MomentumTrump appears to hold the momentum before the election, but experts say the polling numbers mean little for the race overall.
Read more »
The one solar stock to buy after Trump's win hit the sector, analysts sayThis manufacturer stands out as a potential winner even with President-elect Trump set to assume the presidency for a second term.
Read more »
Jack Smith's 'Irregular' Trump Case Actions Raise Red Flags—Legal AnalystsThe release of evidence against former President Donald Trump just weeks before the election raised eyebrows among legal experts.
Read more »
Trump's Demands of Judge Chutkan Were Just a 'Hail Mary': Legal AnalystsLegal experts Kimberly Atkins Stohr and Joyce Vance discussed Trump seeking more discovery from Special Counsel Jack Smith's team.
Read more »
Elon Musk's Ground Game for Donald Trump May Be Backfiring, Analysts WarnAn analyst has suggested Musk's efforts to drum up support for Trump via petition could be capitalized on by Democrats.
Read more »
Citi analysts see potential rotation out of ‘Trump trades'Citi analysts see potential rotation out of ‘Trump trades'
Read more »