Deutsche Bank raises Nordex target to EUR 59: Nordex stock falls 1.30 percent

Published on 10/02/2026 at 12:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue rose 16.30 percent year on year to EUR 2.20 billion. Nordex stock costs EUR 38.10 on October 2, 2026 after EUR 38.60.

Pop-Art-Comic-Illustration einer Windturbine vor blauem Himmel mit Sonne und Wolken — Nordex SE (DE000A0D6554) im Pop-Art-Comic-Stil: leuchtende Windturbine vor blauem Himmel mit Halbtonpunkten, Illustration mit AI erstellt.

Nordex (ISIN DE000A0D6554) was trading at EUR 38.10 at Lang & Schwarz on October 2, 2026 at 12:01 p.m. CEST, down 1.30 percent from the EUR 38.60 prior close. On October 2, 2026, Deutsche Bank Research raised its Nordex price target from EUR 58.00 to EUR 59.00 and kept its Buy rating, as finanzen.ch reported. The bank cited project delays as a reason for caution on the annual targets while expecting strong margins.

Target rises as margins matter

The EUR 1.00 target increase is modest against the prior level, but it keeps the analyst view well above the current Lang & Schwarz price. The new target is 54.86 percent above EUR 38.10, calculated in the same currency.

The immediate counterweight is execution. Deutsche Bank linked its cautious view on annual targets to project delays, making delivery timing and margin conversion central to the next results update.

Second-quarter profit sets the benchmark

Nordex reported second-quarter 2026 sales of EUR 2.20 billion, up 16.30 percent from EUR 1.90 billion a year earlier, according to Capital.com. EBITDA increased to EUR 223.80 million from EUR 108.20 million, lifting the EBITDA margin from 5.80 percent to 10.30 percent in the quarter.

Order intake in the Projects segment also grew 32.20 percent year on year to 3,054 MW in the first half of 2026. The total order book reached EUR 18.40 billion on June 30, 2026, compared with EUR 14.30 billion a year earlier, while full-year 2026 guidance remained revenue of EUR 8.20 billion to EUR 9.00 billion and an EBITDA margin of 8.00 percent to 11.00 percent.

Orders support the execution test

Nordex announced 175 MW of new orders in France, Portugal and Spain on September 30, 2026, according to its investor-relations portal. The new volume adds to the order-book visibility, but the analyst commentary shows why converting projects into profitable revenue remains the key operating test.

The next quarterly statement is scheduled for November 5, 2026. That date gives investors a defined checkpoint for order conversion, project timing and the margin trajectory behind the EUR 59.00 target.

Nordex stock remains below target

Nordex was trading at EUR 38.10 at Lang & Schwarz on October 2, 2026 at 12:01 p.m. CEST, down 1.30 percent versus the EUR 38.60 prior close. The share price therefore stood 35.42 percent below the EUR 59.00 Deutsche Bank target, with the difference reflecting both the analyst view and execution risk.

The further course of trading is shown by the continuously updated real-time quote of Nordex stock.