Kepler Chevreux upgrades Fugro to 'buy' as offshore wind market sentiment 'starts to turn'

Fugro NV

12/02/2026 09:38

** Kepler Chevreux upgrades Dutch geo-data specialist Fugro FUGR.AS to "buy" from "hold", citing turning sentiment in the offshore wind market

** The brokerage believes recent auction outcomes in the UK and Poland are increasingly seen as a "blueprint to help restart offshore wind investment"

   ** The broker notes the company's shares fell by almost 70% from peak levels due to weakness in the sector, which also resulted in three profit warnings

   ** It also views the recent European countries wind power commitment as supportive, as greater cross-border coordination should improve project visibility and planning for the industry

** Fugro's position as an early-cycle player should allow it to benefit from a market revival earlier than its peers, the broker adds

** Reflecting this improved outlook, Kepler Chevreux raises its PT by over 60% to 14.50 euros ($17.23)

** Out of 8 analysts that cover Fugro, two rate the stock "strong buy" or "buy," ​four rate "hold" and two rate the stock "strong sell" or "sell" - LSEG data

($1 = 0.8415 euros)

 (Reporting by Lucie Barbier)

 ((Email: lucie.barbier@thomsonreuters.com))