GS cuts Orsted to 'neutral' on rising sovereign rates

Oersted A/S

13/10/2026 13:15

** Goldman Sachs downgrades Danish offshore wind developer Orsted ORSTED.CO to "neutral" from "buy", citing rising sovereign rates and the firm's capital-intensive nature
** The brokerage expects Q3 results to be somewhat underwhelming compared to the rest of the sector, which could lead to negative consensus earnings revisions
** The broker cuts PT by 16% to DKK 155, which still implies an upside but falls below the sector average and is no longer sufficient to support a "buy" rating
** It notes sovereign rates across Europe and the US have risen significantly, adding that "Orsted features among the most capital-intensive companies in the industry"
** GS previously upgraded the stock in April following a perceived shift in the US administration's stance towards offshore wind and higher completion probability
** Out of 28 analysts that cover the stock, 14 rate it "strong buy" or "buy" and 14 "hold" — LSEG data
     

(Reporting by Marta Frackowiak)
((marta.frackowiak@thomsonreuters.com))