Vestas Wind downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded Vestas Wind to Hold from Buy with an unchanged price target of DKK 220. Shares have risen by 37% since September and the firm thinks “it is now time for a breather,” citing the risks created by the Red Sea turmoil and U.S. elections. The firm also expects FY24 EBIT guidance to be around 15% below consensus at the mid-point and estimates “there could be a better entry point later this year,” the analyst tells investors.