Energy and Utilities Roundup: Market Discussions

The latest market discussions covering energy and utilities. Published exclusively on x Newswires at 4:20 a.m. ET, 12:20 p.m. ET and 4:50 p.m. ET.

08:05 GMT – Orsted faces considerable near-term risks that will persist until the company can provide greater confidence in its future strategy and stability, write Berenberg analysts Marc Ip Tat Kuen and Andrew Fisher. Ongoing difficulties with Orsted’s offshore wind projects in the United States have plagued the company, and an updated strategy is expected by fourth-quarter results at the latest. However, over the long term, Berenberg says the risk/reward profile is “biased upward, especially with stocks trading below our floor valuation (of DKK 324).” Berenberg lowers its price target from DKK 600 to DKK 450, reflecting greater caution regarding Orsted’s existing assets and lower growth ambitions until 2030 and beyond. It maintains a Buy rating. The shares closed on Monday at DKK 321.40. (dominic.chopping@wsj.com)