Ørsted shares rise after Citi raises its price target to NOK165, citing progress in project delivery and execution stability.
Ørsted (DNNGY) climbed 0.6% in Wednesday trading after Citi upgraded the stock to Buy from Neutral, raising its price target to NOK165 from NOK142. The firm highlighted the company’s improving execution and progress in offshore wind project delivery as key drivers for the upgrade.
Prior to the upgrade, Ørsted had faced challenges in project timelines and cost overruns, weighing on investor sentiment. Citi’s revised outlook reflects confidence in the company’s turnaround efforts amid a stabilizing operational environment.
The stock’s modest gain follows the upgrade, though broader market reactions remain muted as investors assess the sector’s recovery prospects.