Nordex falls after Citigroup downgrade on 'full valuation'

Nordex SE

10/02/2026 09:54

** Nordex shares are down 4.6% after Citigroup cut to "neutral" from "sell", citing the German wind turbine maker's full valuation after a strong 2025 performance

** "Given that operating leverage is the key incremental margin driver from here, we see orders as likely to be the key focus for investors, and the bar for further beats is now higher," the broker says

** It notes the Hamburg-based company's ongoing rally, expecting a raised mid-term EBITDA margin target to around 10% and dividend announcement

** The company's share price gained almost 160% in 2025, and has climbed 10.5% year-to-date

** Out of 17 analysts covering Nordex, 11 rate the stock "strong buy" or "buy", ​four rate "hold" and two​ rate "strong sell" or "sell" - LSEG data

 (Reporting by Danny Callaghan)

 ((danny.callaghan@thomsonreuters.com))