Berenberg analyst Henry Tarr downgraded Vestas Wind (VWDRY) to Hold from Buy with a price target of DKK 120, down from DKK 180. The firm has some doubts about the extent of Vestas’ margin recovery, due to its current level of costs, as well as the sustainability of the margin in its Service business. Also, a Trump presidency will likely reduce Vestas’ offshore market potential over the medium term, the analyst tells investors in a research note.
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