BofA upgrades Orsted on 'firmly positve' risk-reward balance

Oersted A/S

30/03/2026 09:30

** BofA Global Research upgrades Danish renewable energy company Orsted ORSTED.CO to "buy" from "neutral", saying the balance of risk and reward has turned "firmly" positive

** The broker notes the war in the Middle East will create momentum for fossil fuel independence in Europe, making offshore wind a key potential beneficiary

** Policy support for offshore wind in Europe is strengthening, while risks facing Orsted’s U.S. projects have significantly diminished in recent weeks, the broker says

** A repaired balance sheet allows Orsted to participate in upcoming offshore auctions to drive growth and potentially resume onshore development, BofA adds

** It raises its PT by 16.1% to DKK 180, expecting an attractive and sustainable FCF yield once six offshore wind farms under construction become operational

** Shares in Orsted up 7.2% at 0829 GMT

(Reporting by Agnieszka Gosciak-Rabalska)

((Agnieszka.Gosciak@tr.com; +48 58 769 66 00;))