The company rose almost 16 percent, almost 26 billion Danish kroner. Investors happily pressed the buy button after a political settlement in the US looks like it could mean new money for, among other things, climate investments.
“We have had a market in the USA where the best years have filled more than a third of Vesta’s total turnover,” says Sydbank’s head of equity analysis Jacob Pedersen.
If the agreement passes in the US Congress, the US wind power market could grow significantly in the coming years. Whether the share rise is an overreaction or not, one can have different opinions about, given that it has not yet been hammered, he believes.
“But the reality is that a strong American market is worth far more to Vestas than 16 percent more in market capitalization, because it could account for between 30 and 40 percent of the business,” says Pedersen.
Sweden’s Eolus, which also has a large exposure to the US, rose roughly 13 percent on Thursday.