Nordex gains after Citi upgrades to 'buy'

Nordex SE

08/09/2026 08:15

** Shares in German wind turbine maker Nordex NDXG.DE rise 1.9% after Citi upgrades the stock to "buy" from "neutral", saying the current valuation already discounts a negative outcome from planned changes to Germany's auction system
** Citi notes shares are up about 39% this year but still lag a roughly 45% rise in expectations for 2027 earnings
** The broker points to earnings visibility in 2027-28, stronger German auction volumes and a recovery in the U.S. market
** Citi raises its price target to €50 from €48
** The broker sees further Street EBITDA upgrades for 2027 and 2028 driven by stronger margin momentum

($1 = 0.8605 euros)

 (Reporting by Kira Britten)
 ((Kira.Britten@thomsonreuters.com))