Citi upgrades Orsted to 'buy' as shares offer a 'free growth option'

Oersted A/S

26/08/2026 09:04

** Citi upgrades Danish renewable energy company Orsted ORSTED.CO to "buy", citing its stabilising execution and project delivery as a first step towards returning to growth
** The brokerage notes a more rational competitive landscape and better government support which should deliver an improved internal rate of return for projects of 8% to 9%
** Over the next 18 months the broker sees about 40 gigawatts of offshore wind tenders with improving auction frameworks that better align with industry cost structures
** Citi adds that the shares currently reflect little value for the unsecured pipeline meaning that investors are effectively receiving a "free growth option"
** The broker lowers its PT by 2% to DKK 165 to reflect lower assumed power prices and conservative project timing while still including unsecured future growth
**  Out of 28 analysts that cover Oersted A/S, 12 rate the stock "strong buy" or "buy,"​ 16 "hold" and no analysts rate the stock "strong sell" or "sell" - LSEG data

(Reporting by Agnieszka Olenska)
((Agnieszka.Olenska@thomsonreuters.com;))