Vestas: Credit Suisse raises target price

(CercleFinance.com) - A Credit Suisse analyst today confirmed his "Underperform" recommendation on the stock of Danish wind turbine maker, Vestas, although raised his corresponding target price for it.


The analyst now targets 540 Danish kronor (vs. 450 Danish kronor previously), which is still a way off its current price of about 920 Danish kronor.

"We remain Underperform on valuation grounds, as we do not expect
material EPS upside over the coming 3 years, even with the services business growing c7% p.a.," the broker said.



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