GS ups Orsted to 'buy' seeing Europe renewables pivot, shift in US approach

Oersted A/S

27/04/2026 12:40

** Goldman Sachs upgrades Denmark's Orsted ORSTED.CO to "buy" from "neutral", seeing a "major opportunity to turn around its equity story" as market environment for offshore wind shows signs of improvement

** The broker says a potential European pivot to renewables for energy security would be positive for offshore wind, alongside the U.S. administration's perhaps softening stance on the sector

** GS notes the Trump administration did not appeal the recent ruling to end a halt on Orsted's Sunrise Wind project and recently purchased offshore leases from TotalEnergies TTEF.PA, which it sees reducing U.S. risks

** If Orsted completes its under-construction U.S. projects, GS expects its balance sheet to be very strong by 2028, which should allow it to resume growth

** Despite some business risks like historical poor execution, the broker stands significantly ahead of market consensus on 2033 EBITDA estimates

** Orsted's shares are up 3.6% at 1136 GMT

** Out of 30 analysts that cover the stock, 12 rate it "strong buy" or "buy" and 18 "hold" - LSEG data

(Reporting by Marta Frackowiak)

((marta.frackowiak@thomsonreuters.com))