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VWDRY - Vestas: Momentum Continues With Strong YTD Order Flow; Estimates Headed Higher
Vestas Wind Systems A/S ADR Unsponsored Repstg 1 Ord Shs
3Q20 order flow is coming solid with a flurry of orders at quarter (today) and is not showing signs of impact from COVID-19.
Street estimates are likely to inch up for 2021 as some analysts are simply too low for 2020 orders (many of which will land on the 2021 income statement).
We are increasing our multiple range and upside target as we look ahead to a robust 2021.