Goldman Sachs upgraded Nordex to Buy from Neutral with a EUR 15 price target. Nordex has underperformed Vestas by about 30% and Siemens Energy by about 50% since the start of November 2023 and the size of this underperformance is “unjustified” given that Nordex is benefiting from the same tailwinds the firm sees driving the broader wind turbine industry, the analyst tells investors.
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