Nordex Price Target Up as Berenberg Notes FY26 Guidance Upgrade; Buy Rating Kept

07:53 AM EDT, 10/19/2026 (MT Newswires) -- Berenberg raised its price target on Nordex (NDX1.F) after the wind turbine manufacturer upgraded its full-year 2026 EBITDA margin guidance in its preliminary third-quarter report. "We view this upgrade as evidence of robust project execution on the growing backlog and continued margin expansion within the Service business. Underlying momentum remains highly supportive, including accelerating turbine orders and a growing, better-quality Service backlog, in our view. We believe management's medium-term EBITDA margin targets could be revised higher due to the resurgence in US orders ytd and a likely expansion in aggregate German onshore wind tenders to 2032," Berenberg said Monday. Following the upgrade in the EBITDA margin guidance to a range of 11.5% to 12.5% from the previous 8% to 11%, the research firm now expects Nordex management to set a medium-term margin target of between 11% and 13%, with the metric forecast at 12.7% in 2030. As such, the stock's price target was raised to 61 euros from 58 euros, with an unchanged buy rating. Berenberg also raised its EPS estimates for 2026 through 2028, driven by "greater confidence" in margins in both the company's projects and service businesses.