Orsted A/S (OTC: DNNGY) Price Target Raised by RBC Capital Markets: Catalysts for Growth Ahead
RBC Capital Markets has adjusted its price target on Orsted A/S (CSE::DC) (OTC: DNNGY) shares, a Denmark-based renewable energy company, to DKK450.00. This revision comes after Orsted's first-half results and management's disposal plan of DKK 70-80 billion for 2024-2026.
The company's divestment strategy is expected to provide near-term catalysts for Orsted, with disposals and a favorable rate environment contributing significantly. Despite these positive developments, investors should remain cautious and seek clarity on the disposals before making investment decisions.
In other news, Orsted has reported a substantial rise in EBITDA for the second quarter of 2024, driven by higher output from offshore wind farms. Deutsche Bank has also adjusted its price target on Orsted's shares, reflecting the company's continued focus on renewable portfolio growth.
Despite challenges such as delays in the Revolution Wind project, Orsted remains committed to its strategic goals. With a market capitalization of $26.11 billion and a history of dividend increases, the company's financial health remains strong.
For investors looking to capitalize on Orsted's potential growth, InvestingPro offers valuable insights and tips. With the next earnings date approaching and analysts forecasting profitability, now may be the right time to explore investment opportunities in Orsted.