- (PLX AI) - Orsted's contract award in the New Jersey offshore wind auction is a significant win that should alleviate questions and concerns about intensifying competition, analysts said.
- • The company's Ocean Wind 2 project was awarded 1,148 MW by New Jersey's Board of Public Utilities yesterday
- • The price appears to be consistent with recent awards in the U.S. and does not stand out as being overly aggressive, Wells Fargo said, reiterating an overweight rating on Orsted and DKK 1,300 price target
- • By itself, the win won't have a major financial impact, but it was an important milestone for Orsted and the first win in the U.S. since 2019, SEB said, reiterating a buy rating and DKK 1,000 price target
- • The New Jersey contract is proof that Orsted remains a leading player in offshore wind in the United States despite increasing competition, Sydbank said, reiterating a buy rating
- • This is a big project with solid returns, which is good news for Orsted and the renewable sector, UBS said, reiterating a buy rating and DKK 1,000 price target
- • The economics of the project look attractive, with an estimated IRR of at least 8% possible, Bank of America said
- • There will be capex savings as Orsted will be using a larger 14 MW turbine and will benefit from cluster synergies with the adjacent Ocean Wind 1 project: BofA
- • BofA reiterates neutral rating on Orsted, with price target DKK 1,040
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