Nordex down as BofA cuts wind turbine maker to 'neutral'

Nordex SE

01/04/2026 12:20

** Nordex NDXG.DE shares fall nearly 2% after Bank of America cuts the German onshore wind turbine maker to "neutral" from "buy" on priced-in potential

** The broker says Nordex's strong YTD performance means upside is largely priced into its current share value, but BofA remains sceptical about whether EU will materially boost onshore wind installation in the near-to-medium term

** Nordex's shares are up about 55% since the start of the year, BofA points out

** The broker adds that grid investment is the key constraint to further deployment

** It expects impacts from Middle East war could raise fuel costs for outbound freight, disrupt supply chains – noting Nordex sources more than 30% of its parts from China – and increase mid-term EU gas prices possibly driving steel costs

** The Hamburg-based company sits bottom of Germany's midcap index .MDAXI at 1200 GMT

** Out of 18 analysts covering Nordex, nine rate the stock "strong buy" or "buy", ​seven rate "hold" and two​ rate "strong sell" or "sell" – LSEG data

 (Reporting by Danny Callaghan)

 ((danny.callaghan@thomsonreuters.com))