After a strong price recovery for seven trading days, a buy recommendation hardly gave the Nordex shares any momentum on Tuesday.
After its price had climbed by up to 2.4 percent to 11.85 euros in early trading, the highest level since the beginning of October, it came back significantly by the afternoon. Most recently, the Nordex share was up 0.04 percent at 11.58 euros. Since the most recent interim low seven trading days ago, its price had risen by 29 percent.
The HSBC experts have even more confidence in the Nordex share with a price target of 15 euros: They increased their rating from “Hold” to “Buy”. A better competitive environment in the area of land-based systems could further stimulate the order situation for the market leader in the EU, it was said.
At the same time, cash inflows underpinned the balance sheet and valuation. Overall, the path to the margin target is becoming clearer despite all the risks, according to the experts.
So far this year, the stock has recorded a price increase of eleven percent, making it one of the ten best stocks in the MDAX, which has fallen slightly since the end of 2023. However, over the past twelve months, Nordex shares have lost almost a fifth of their value, which is more than the index for medium-sized stocks.
With a market value of just over 2.7 billion euros and a free float of only around 50 percent, Nordex is one of the lightweights in the MDAX. Almost half of the company is owned by the Spanish group Acciona.
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FRANKFURT (dpa-AFX)
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