Orsted is a renewable energy company based in Denmark. Co. is engaged in developing a renewables portfolio based on competences in offshore wind, bioenergy, and energy solutions. Co. is active in deploying offshore wind and converting existing coal- and gas-fired power stations to sustainable biomass, providing a heat and power supply which is both green and flexible. Co. divides its operations into four businesses: Wind Power, Bioenergy & Thermal Power, and Distribution & Customer Solutions. The Bioenergy & Thermal Power and Distribution & Customer Solutions businesses jointly constitute Co.'s Danish utility business. Co. maintains activities primarily in Northwestern Europe.
  • TickerORSTED
  • ISINDK0060094928
  • ExchangeNasdaq Nordic Copenhagen
  • SectorGas, Water & Multi-utilities
  • CountryDenmark

Analysts

Casper Blom

Orsted - A place to hide while uncertainty rules

2020 guidance reiterated If COVID-19 restrictions continue, there will eventually… … be an impact, but for now, Orsted seems protected

André Thormann ...
  • Benjamin Silverstone
  • Casper Blom
  • Jannick Lindegaard Denholt
  • Peter Kurt Nielsen
  • Tobias Kaj

Talking Points - Orsted (Hold): A place to weather the storm

Wallenstam (Hold) Rec. change (prev. Sell): Good value growth potential for rentals Construction could be delayed, unlikely to be cancelled Up to HOLD (Sell) , TP of DKK 655 (DKK 660)

Casper Blom

Orsted - A place to weather the storm

We see no immediate impact from COVID-19 Construction could be delayed, unlikely to be cancelled Up to HOLD (Sell) , TP of DKK 655 (DKK 660)

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

MSCI EM in early stages of bottoming Our overall global outlook remains cautious and continued downward pressure on global equities remains our expectation. This belief is supported in part by the absence of bottoming price action for broad global indexes (MSCI ACWI, ACWI ex-U.S., and EAFE), which are still making lower highs and lower lows. However, one bright spot is EM (more on this below), which continues to give us hope that global equities can bottom out. • Emerging Markets. We began highlighting the MSCI EM index as leadership on a relative basis back in November, so continued outper...

Dave Nicoski ...
  • Ross LaDuke

Global Equity Strategy

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Investors' primary sources of angst continue to revolve around concerns of (1) the global shift toward tighter monetary policy and the potential for perceived policy missteps, (2) trade and tariffs, and (3) the potential negative effects both (1) and (2) may have on global growth. Comments from Fed Chair Powell that interest rates are “just below” the neutral rate and the 90-day tariff ceasefire agreement between the U.S. and China have not been able to calm the markets. In Europe, ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Global Utility Stocks

Broadly speaking, global equities (MSCI ACWI, ACWI ex-U.S., EAFE) remain unattractive from a price perspective as breakdowns and downtrends abound. The defensive Utilities Sector has been a primary beneficiary of global equity market weakness. Today we direct your attention to three stocks with the best setups in the Sector: Guangdong Investment Limited (270-HK), Orsted (ORSTED-DK), and Electricite de France SA (EDF-FR). All three have pulled back to logical support and should be bought at current levels. Add exposure.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities within Mobile Payments, Metals & Mining, and Utilities The MSCI ACWI and S&P 500 continue to recover following the most recent test of support at their respective 200-day moving averages. With market internals still mixed, support levels holding, and indexes continuing to consolidate sideways, our neutral but constructive outlook remains intact. • Major themes: Mobile Payments, Metals & Mining, and Utilities. We believe the secular mobile payments theme (ETF: IPAY) has room to run, and we expect related stocks to continue outperforming... see pages 2-4 for actionable stocks. W...

Casper Blom

Orsted - A place to hide while uncertainty rules

2020 guidance reiterated If COVID-19 restrictions continue, there will eventually… … be an impact, but for now, Orsted seems protected

André Thormann ...
  • Benjamin Silverstone
  • Casper Blom
  • Jannick Lindegaard Denholt
  • Peter Kurt Nielsen
  • Tobias Kaj

Talking Points - Orsted (Hold): A place to weather the storm

Wallenstam (Hold) Rec. change (prev. Sell): Good value growth potential for rentals Construction could be delayed, unlikely to be cancelled Up to HOLD (Sell) , TP of DKK 655 (DKK 660)

Casper Blom

Orsted - A place to weather the storm

We see no immediate impact from COVID-19 Construction could be delayed, unlikely to be cancelled Up to HOLD (Sell) , TP of DKK 655 (DKK 660)

Casper Blom ...
  • Victor Forssell

Talking Points - Humana (Buy): Good entry point post sell-off, up to BUY

Both Finland and I&F should be able to improve in 2020 Up to BUY (Hold) – new TP of SEK 62 (60)

Casper Blom

Orsted - Making money on lower interest rates

Lower expected return requirement in the… …divestment process of the Hornsea 1 transmission Target price increased by DKK 5 to DKK 660 per share

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 31/01/2020 - Orsted

Orsted (Achat) : EBITDA de DKK17,5mds (+17% en comparable) en 2019 BBVA (Achat) : RBE de €12,6mds (+4,9%) en 2019, dépréciation de €1,3md aux Etats-Unis CaixaBank (Achat) : RN de €1,7 md (-14,1%) en 2019 Banco de Sabadell (Vente) : Perte nette de €15m au T4-19 Eli Lilly : RN de $8,3mds (+157%) en 2019 Akelius (Conserver) : Prévoit une émission hybride 61,25NC6,25 de €500m Verizon (Achat) : RN de $19,3 mds (+24%) en 2019 Altria : Dépréciation de $8,6mds sur son investissement dans Juul en 2019   Emetteurs : France, CaixaB...

Marnik Hinnekens

TP ICAP - Europe - Focus High Yield 09/12/2019 - NordLB- FR

NordLB : Un sauvetage bancaire étatique approuvé par la CE, pas de bail-in sur les subordonnés WEPA Hygieneprodukte : Nouvelles émissions, nous initions une recommandation à l’Achat (+) Sanofi : Acquisition de  Synthorx pour $2,5 mds Tesco (Achat) : Envisage de céder ses supermarchés en Thaïlande et en Malaisie pour $9 mds Ericsson (Conserver) : Va verser $1md (€900m) pour clore des enquêtes anti-corruption Danske Bank (Vente) : Revoit à la hausse ses perspectives pour 2019 Air France-KLM (Achat) : Hausse du trafic passager de +3,6% au mo...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 28/11/2019 - Atlantia- FR

Atlantia (Conserver) : Le gouvernement italien devrait prendre une décision la semaine prochaine sur la concession italienne Vienna Insurance (Achat) - 9M-19 : Résultat avant impôts de €376m (+6,8%) Deutsche Bank (Vente) : Cède un bloc d’actifs émergents d’une valeur nominal de £40mds Selecta (Achat) - Exercice 2018/19 : EBITDA de €198m (+11,4%) Loxam (Achat) - 9M-19 : EBITDA de €430m (+15,7%) Merlin Properties (Achat) : Emission d'une obligation de €500m 15Y ms+165pbs Imerys (Achat) : Pourrait céder ses filiales nord-américaines de talc ...

Moody's assigns Baa3 rating to hybrid notes to be issued by Orsted; stable outlook

Rating Action: Moody's assigns Baa3 rating to hybrid notes to be issued by Ørsted; stable outlook. Global Credit Research- 16 Nov 2017. London, 16 November 2017-- Moody's Investors Service has today assigned a Baa3 long-term rating to the proposed issuance of Callable Subordinated Capital Securities due 3017 by Ørsted A/S.

Orsted A/S: Divestments boost 2017 earnings outlook

INFRASTRUCTURE AND PROJECT FINANCE ISSUER COMMENT 7 November 2017 Contacts Joanna Fic +44.20.7772.5571 VP-Sr Credit Officer [email protected] Neil Griffiths- Lambeth +44.20.7772.5543 Associate Managing Director [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-4100 EMEA 44-20-7772-5454 Ørsted A/S Divestments boost 2017 earnings

ORSTED A/S sees an upgrade to Positive due to a better fundamental star rating

The general evaluation of ORSTED A/S (DK), a company active in the Multiutilities industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date January 21, 2020, the closing price was DKK 700.40 and its potential was estimated at DKK 735.42.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Orsted- AGM 02 March 2020

In general, Ørsted is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 4, although not legally required in Denmark, the board of directors and the executive management seek discharge. Under its guidelines, ECGS no longer approves discharge of the board of directors and/or executive management if there is no legal requirement for it. Since there is no such (legal) requirement in Denmark, ECGS recommends to vote OPPOSE. Under ITEM 9.1, it is proposed to re-appoint Mr. Thomas Thune Andersen as Chairman of the board o...

Expert Corporate Governance Service (ECGS)

Orsted - March, 05th 2019

In general, Orsted is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 3, although not legally required in Denmark, the board of directors and the  executive management seek discharge. Under its guidelines, ECGS no longer approves  discharge of the board of directors and/or executive management if there is no legal requirement for it. Since there is no such (legal) requirement in Denmark, ECGS recommends to vote OPPOSE. Under ITEM 7.2, it is proposed to re-appoint Mr. Thomas Thune Andersen as Chairman of the board...

Expert Corporate Governance Service (ECGS)

Proxy Report - 08/03/2018

In 2017, the Company (formerly DONG Energy) changed its name to Orsted. The name is a tribute to the Danish scientist H.C. Orsted, who (among other things) discovered electromagnetism.In general, Orsted is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 3, although not legally required in Denmark, the board of directors and the executive management seek discharge. Under its guidelines, ECGS no longer approves discharge of the board of directors and/or executive management if there is no legal requirement for it. Sin...

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