Orsted upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Alberto Gandolfi upgraded Orsted to Buy from Neutral with a price target of DKK 765, up from DKK 735. The analyst contends that the market is underestimating the company’s cash flows while noting that lower debt expectations should reduce concerns about the company needing to raise equity. The firm further states that the market is overlooking the decline in raw materials and shipping costs.