Vestas Cut at BofA, but Shares Rise as Management Buys Stock

• (PLX AI) - Vestas shares rose despite a downgrade at Bank of America, after the CEO and a board member bought shares during the big drop yesterday.
• • Vestas CEO Andersen bought 3,000 shares for about DKK 675,000 and board member Berneke bought 4,000 shares for nearly DKK 1 million
• • Vestas isn't as protected from inflation and supply chain volatility as was expected, Bank of America analysts said, cutting their recommendation to neutral from buy
• • Price target cut to DKK 230 from DKK 260
• • Supply chain volatility next year combined with lower U.S. volumes may mean difficulties in expanding margins, which could be a drag on valuation despite a strong long term growth outlook, BofA said
• • Vestas price targets were also cut at SEB, Nordea, Carnegie and Kepler Cheuvreux, among others