Nordex Stock Surges Near 52-Week High on Turkish Order, Analyst Optimism
Nordex's wind energy stock has seen a remarkable surge, nearly doubling since its January low and nearing a new 52-week high. Despite this, the stock experienced a slight dip of 1.14% to 22.50 euros, indicating investor caution at critical price levels.
The German wind turbine manufacturer has secured a significant order from Turkish company ADY Akdeniz Ruzgar Enerji Uretim. The deal involves 15 N163/6.X turbines, totalling 90 megawatts. These turbines will be delivered in a special cold climate version and mounted on 113-meter-high steel tube towers, demonstrating Nordex's adaptability to diverse stock markets.
The order also includes a ten-year maintenance contract, providing Nordex with predictable revenue streams. This long-term commitment underscores the client's confidence in Nordex's products and services. Meanwhile, analysts remain bullish on Nordex's stock. A recent report from October 2nd recommends buying Nordex shares, citing early certification of a key product, substantial order volume, a positive rating from Jefferies, and a nearly 94% stock market performance increase this year. Optimism is high ahead of the upcoming Q3 results and the company's prospects.
Nordex's stock may have experienced a slight dip, but it remains near its annual high, buoyed by a significant order from Turkey and positive analyst sentiments. The company's ability to secure long-term maintenance contracts and adapt to diverse stock markets bodes well for its future. Investors are advised to keep a close eye on Nordex's upcoming Q3 results and the company's overall performance.
