Citi Maintains Sell Rating, Claims Ørsted Shares Are Priced to Perfection

Citi's Rating on Ørsted: Citi maintains a Sell rating on Ørsted, citing that the company's shares are overvalued and face uncertainties in project execution and regulatory challenges, particularly from the Trump administration's actions against the offshore wind industry.

Financial Developments: Ørsted has completed a 60 billion Danish kroner rights issue and announced a deal to sell half of the Hornsea 3 project, which provides it with necessary cash flow and time to implement its strategy.

Future Valuation: Analyst Jenny Ping estimates Ørsted's fundamental value at approximately 140 kroner, aligning with its current stock price, assuming flawless execution over the next 18 months.

New Project Award: Ørsted, in a joint venture with ESB, has been awarded provisional rights to develop the 900 MW Tonn Nua wind site offshore Ireland, expected to generate enough electricity to power nearly one million homes by the mid-2030s.