Berenberg raises Nordex target to EUR 61: Nordex stock falls 2.32 percent

Published on 10/20/2026 at 10:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg lifted its target from EUR 58.00 to EUR 61.00 on October 19, 2026. Nordex stock trades at EUR 37.55 on October 20, 2026, 2.32 percent below the Xetra close.

Guidance and order momentum

Berenberg raised its Nordex target from EUR 58.00 to EUR 61.00 on October 19, 2026.
Nordex lifted its fiscal year 2026 EBITDA margin guidance to 11.5 percent to 12.5 percent on October 15, 2026.
Nordex stock trades at EUR 37.55 at 10:05 a.m. CEST at Lang & Schwarz on October 20, 2026, 2.32 percent below the Xetra close of October 19, 2026.

Isometrische Explosionszeichnung einer Windturbine mit Turm, Gondel, Getriebe und Rotorblättern — Nordex SE (DE000A0D6554) als isometrische 3D-Explosionszeichnung einer Windkraftturbine mit Turm, Gondel und Rotorblättern, Illustration mit AI erstellt.

Nordex (ISIN DE000A0D6554) was trading at EUR 37.55 at Lang & Schwarz on October 20, 2026, at 10:05 a.m. CEST, down 2.32 percent against the EUR 38.44 Xetra close of October 19, 2026. Boursorama reported that Berenberg raised its Nordex target from EUR 58.00 to EUR 61.00 on October 19, 2026, while retaining its Buy rating.

Three orders shaped October

On October 7, 2026, Nordex SE announced 389 MW of new orders in Türkiye, covering 56 turbines. On October 12, 2026, the company reported third-quarter project orders of 2,810 MW, up 29.50 percent from 2,170 MW a year earlier, with nine-month orders at 7,733 MW.

On October 15, 2026, Nordex SE raised its full-year 2026 EBITDA margin guidance to 11.5 percent to 12.5 percent from 8.00 percent to 11.00 percent. Preliminary third-quarter EBITDA was EUR 278 million, compared with EUR 136 million in the third quarter of 2025.

What does the margin raise mean?

The midpoint of the new guidance is 12.00 percent, compared with 9.50 percent at the midpoint of the former range. That is consistent with the preliminary third-quarter EBITDA margin of 12.70 percent, while the company attributed the improvement to higher Service margins and stronger Projects execution.

The next reporting date is set

Nordex SE will publish its full third-quarter 2026 results on November 5, 2026. The release will show whether the preliminary margin performance carried into the companys complete quarterly figures.

Stock price and guidance

The combination of stronger order intake, higher preliminary profitability and the revised margin range gives the October announcements a clear operating thread. The current quotation remains below both the October 19 Xetra close and Berenbergs EUR 61.00 target.

Nordex stock was trading at EUR 37.55 at Lang & Schwarz on October 20, 2026, at 10:05 a.m. CEST, 2.32 percent below the Xetra close of October 19, 2026 at EUR 38.44. The further course of trading is shown by the continuously updated real-time quote of Nordex stock.