0745 GMT - Citi expects Vestas Wind Systems will see positive free cash flow from full-year 2025, which could help drive the shares higher. The bank included Vestas in its sector top picks for 2025 but says investor conversations suggest that it has been a polarizing choice. "While we see risk/reward firmly skewed to the upside, many investors have concerns on the lack of detail of the accounting in the service division, and the partly-related volatility in free cash flow." Citi believes that 3-year cumulative free cash flow of over 3 billion euros during 2025-2027 looks likely. The bank keeps its buy rating and lowers its target price to 220 Danish kroner from 235 kroner. Shares closed at 104.55 kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
January 07, 2025 02:45 ET (07:45 GMT)
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