(News Bulletin 247) – Jefferies maintains its Buy recommendation on the Nordex share and lowers its price target from 16 to 15E.
“We believe that Nordex is well positioned to benefit from an increasingly favorable regulatory environment, and we expect the company to continue to gain market share,” said the analyst.
Against this backdrop, Jefferies expects Nordex ‘to begin achieving higher levels of profitability, moving closer to its EBITDA margin target of 8% by the start of year 24’.
For the analyst, profitability should be supported ‘by the transformation of the supply chain, the focus on operational efficiency, the stabilization of prices and the strong growth of its services segment’.
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