Orsted price target lowered to DKK 365.41 from DKK 4,000 at Barclays

Barclays lowered the firm’s price target on Orsted (DNNGY) to DKK 365.41 from DKK 4,000 and keeps an Equal Weight rating on the shares. The firm says European utilities “remain in the foothills of a super-cycle.” Regulated is now Barclays’ preferred sub-sector and generators earnings “continue to unwind,” the analyst tells investors in a research note. Barclays sees possible upside surprises from balance sheet clarity, low European expectations and capacity payments.