Update shared on10 Oct 2025
Fair value Decreased 1.51%The analyst price target for Nordex has been modestly lowered to €23.11 from €23.46 as analysts factor in tempered growth expectations and heightened risks from potential declines in German orders and reinvestment plans.
Analyst Commentary
Recent analyst activity reflects a mix of confidence and caution regarding Nordex's future performance. Both upside opportunities and critical risks have been highlighted as factors that could influence the company's valuation and growth.
Bullish Takeaways
- Bullish analysts have raised their price targets for Nordex, which signals increased confidence in the company's long-term growth prospects.
- Upward revisions in valuation are attributed to positive expectations for order momentum outside Germany and steady execution of strategic objectives.
- Continued Buy recommendations underscore optimism in management's ability to capitalize on emerging market opportunities and sustain revenue growth.
- Higher price targets suggest that bullish analysts see potential for further operational improvements and financial stability.
Bearish Takeaways
- Bearish analysts have initiated coverage with a cautious outlook and have highlighted significant risks to future German order volumes.
- There are concerns about the possibility that German orders could decline sharply from mid-2026, which may put pressure on earnings and margin performance.
- Reinvestment of company cash is considered a critical factor that could limit near-term shareholder returns and stretch resources if growth projections are not met.
- Ongoing execution challenges in key markets may weigh on the company's ability to achieve target valuations.
What's in the News
- Nordex received an order from wpd for 21 turbines across six projects in Germany, totaling 125.7 MW. The order includes a 15-year maintenance service. Deliveries are planned for 2026 and 2027. (Client Announcements)
- OKKO Group in Ukraine ordered 32 turbines with a combined capacity of 188.8 MW. The order includes installation and service contracts spanning 20 years. The projects will use cold climate turbine models and are set for mid-2026 onward. (Client Announcements)
- Nordex secured its first order in Ecuador for 19 turbines to be installed in the southern region. This project will significantly increase the nation’s installed wind capacity and aims to strengthen Ecuador’s electricity supply and mitigate blackout risks. (Client Announcements)
- In Spain, Abei Energy placed the first order for N175/6.X wind turbines with Nordex. The order includes a 20-year maintenance contract, with installation starting in late summer 2026. (Client Announcements)
- Nordex signed a significant contract at the Husum Wind trade fair to supply 20 turbines, totaling 140 MW, for a wind farm on the Mercedes-Benz testing site in Germany. The project aims to cover about 20% of the company’s annual electricity needs. (Client Announcements)
Valuation Changes
- Consensus Analyst Price Target: Declined modestly from €23.46 to €23.11. This reflects slightly lower fair value expectations.
- Discount Rate: Risen slightly from 6.71% to 6.84%. This suggests a marginal increase in perceived investment risk.
- Revenue Growth: Lowered from 8.02% to 7.91%, indicating a minor reduction in anticipated revenue expansion.
- Net Profit Margin: Remained stable at approximately 3.91%.
- Future P/E: Edged down from 19.0x to 18.9x, pointing to slightly more conservative earnings multiples.
Disclaimer
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