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Barclays Cuts Ørsted Price Target on Unexpected Mega Rights Issue Plan

MT Newswires·08/13/2025 05:32:23
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05:32 AM EDT, 08/13/2025 (MT Newswires) -- Barclays slashed Ørsted's (ORSTED.CO) price target after the wind energy company proposed to conduct a 60 billion-Danish-krone rights issue, one of the largest ever in the utility sector. Keeping the underweight rating, analysts on Tuesday cut the price target to 200.44 kroner from 225.44 kroner to reflect deleveraging. "We see the DKK60bn rights as a surprise. Nearly one month of uncertainty over rights terms clarity with no underwriting price set is unhelpful," said the research firm.