Update shared on26 Sep 2025
Fair value Increased 2.11%Nordex’s consensus price target was raised to €23.46 as analysts cited stronger order intake, margin improvement, and a supportive European wind market, while acknowledging valuation concerns, leading to a slightly higher fair value estimate.
Analyst Commentary
- Bullish analysts raised price targets in light of stronger-than-expected order intake and backlog growth, supporting improved revenue visibility.
- Positive margin development, with ongoing cost discipline and operational efficiencies, contributed to increased confidence in earnings outlook.
- Upward revisions factored in a supportive market environment for wind energy, especially in Europe, bolstering sector prospects for Nordex.
- Bearish analysts noted that current share price levels have reduced the stock's risk/reward appeal, prompting a downgrade to Hold despite raising the price target.
- Adjustments to price targets reflect a balance between promising long-term growth drivers and near-term valuation concerns.
What's in the News
- Nordex secured a contract to supply 20 turbines (140 MW) for a major wind farm on a Mercedes-Benz site in Germany; the project involves a 25-year electricity supply agreement and will be one of the country's largest onshore wind farms.
- The company obtained its first order in Ecuador, supplying 19 turbines (Delta4000 series) to significantly boost the country's wind capacity, with commissioning set for 2027.
- Nordex won an order for seven N163/6.X turbines (47.6 MW) for Austria's Lavamund wind farm, with a 20-year service contract.
- A new contract in Portugal covers 12 N163/5.X turbines (70.8 MW) with a 35-year service agreement, further strengthening Nordex's market position in Portugal.
- Additional orders in Germany, UK, Belgium, France, and Latvia expand Nordex's footprint, including a 147 MW Pienava wind farm in Latvia (the country's largest to date), and numerous multi-turbine wind farm contracts with long-term service provisions.
Valuation Changes
Summary of Valuation Changes for Nordex
- The Consensus Analyst Price Target has risen slightly from €22.98 to €23.46.
- The Future P/E for Nordex has risen slightly from 18.58x to 19.01x.
- The Discount Rate for Nordex remained effectively unchanged, moving only marginally from 6.64% to 6.71%.
Disclaimer
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