(CercleFinance.com) – Nordex is gaining more than 4% in London, while Stifel today initiated coverage of the title with a buy recommendation and a target price of 20 euros.
The analyst believes that Nordex presents a combination of various factors justifying the entry into the stock, such as potential for margin expansion, structural growth driven by a strong offshore pipeline as well as an attractive valuation.
In addition, average annual sales growth should be around 4.6% between 2020 and 2023 and the EBITDA margin should reach its target of 8% in 2024, forecasts Stifel.
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