Jyske Bank says Vestas to attain 2011 order intake target

Jan 2, 2012 - Jyske Bank is confident that Danish wind-turbine maker Vestas Wind Systems A/S (CPH:VWS) will reach the lower end of its expected range for order intake in the full 2011 and retained its "strong buy" recommendation on stock.

The broker hiked its estimates by 6% to 7.025 GW after Vestas unveiled deals for an overall 564 MW between Christmas and New Year. Thus, the announced orders in 2011 correspond to just under 90% of Vesta's own forecast of 7-8 GW.

Vestas lacks 755 MW in undisclosed deals so as to reach the lower end of the projected interval. Although this is a high level, the broker considers it to be realistic to achieve, considering the historically high level of unannounced fourth-quarter orders, coupled with expectations for a large number of small and medium-sized orders in Europe, analyst Janne Vincent Kjaer said in a note.

By 1230 CET on Monday, shares in the company had advanced 7.74% to DKK 66.85 on the exchange in Copenhagen.

(DKK 1.0 = USD 0.174/EUR 0.135)

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