Kepler Cheuvreux Raises Orsted to Buy as 'Capex Cliff' Nears; Shares Rise Over 4%
Orsted shares climbed more than 4% on Monday after Kepler Cheuvreux upgraded the Danish offshore wind developer to a buy rating and increased its target price to DKK175 from DKK150. The upgrade, led by analyst Ingo Becker, reflects an expectation that a steep reduction in capital expenditure from 2028 will reveal stronger free cash flow from renewa…