Vestas Upgraded to Buy as Berenberg Notes 'Exceptional' Q2 Beat; Price Target, Estimates Up

06:21 AM EDT, 08/27/2026 (MT Newswires) -- Berenberg upgraded Vestas Wind Systems (VWS.CO) to buy from hold as analysts took note of the company's "exceptional" second-quarter earnings beat and upgraded full-year outlook in a Thursday research report. The Danish wind turbine maker reported second-quarter revenue of 4.72 billion euros, up from 3.75 billion euros a year ago, while profit increased to 285 million euros from 34 million euros. For 2026, Vestas raised its EBIT margin forecast to between 7% and 9%, from its previous outlook of 6% to 8%. "We view the updated range as conservative considering the typical seasonal patterns, and we expect FY26 margins to reach the top end of the revised guidance range. We model Vestas delivering corporate EBIT margins of 10.2%/11.2% for 2027/28E respectively, driven mainly by the improvement in the Offshore division, as production becomes more efficient and costs fall," the research firm said. Citing its higher margin assumptions for the company's power solutions segment, Berenberg raised its EPS forecasts for 2026 to 2027 by 23% and 33%, respectively. The EPS projection for 2028 was also nudged up 33.6%. Subsequently, the stock's price target was increased to 240 Danish kroner from 196 kroner.