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UBS has reduced its price target for Vestas from 245 to 175 Danish crowns while maintaining a "Buy" rating. Analyst Supriya Subramanian noted that disappointing margins in recent quarters and the US presidential election results are likely already reflected in the stock price, although earnings forecasts for 2024 to 2026 have been significantly lowered.
Vestas Wind Systems A/S, the leading manufacturer of wind power generation systems, reported sales of 2,554 turbines and systems with a total capacity of 12,685 MW in 2023. Revenue breakdown shows 76.8% from turbine sales and 23.2% from services, with significant sales in Europe-Middle East-Africa (46.4%) and the United States (20%).
SAS AB, emerging from bankruptcy, is seeking to enhance its role in European airline consolidation by encouraging Air France-KLM to increase its stake. The airline reports a recovery to 95% of pre-pandemic corporate travel levels, with a full return expected next year. SAS is emphasizing its premium offerings, with Copenhagen as its main hub and plans to reintroduce business class on intra-Europe flights, featuring hot meals and blocked middle seats.
Jos Dijsselhof has resigned as CEO of the Swiss stock exchange SIX after seven years, following significant losses in 2023. Bjørn Sibbern, who has extensive experience in capital markets, will take over the role in 2025. Under Dijsselhof, SIX underwent strategic repositioning, including the sale of its card business and the acquisition of the Spanish stock exchange BME, which contributed to the financial downturn.
UBS has reduced its price target for Vestas Wind Systems from 245 to 175 Danish crowns while maintaining a "buy" rating. Analyst Supriya Subramanian cited disappointing margins in recent quarters and the impact of the US presidential election as factors influencing the share price, alongside a significant cut in earnings forecasts for 2024 to 2026.
Maersk has unveiled its latest dual-fuel methanol vessel, the A.P. Møller, as part of its decarbonization efforts, aiming for net-zero emissions by 2040. This 350-meter ship can run on green methanol, significantly reducing CO2 emissions and sulfur pollutants. With plans for 25 such vessels by 2027, Maersk is leading the industry towards sustainable shipping, supported by increasing client demand and regulatory changes.
The Thermoformed Plastics Market is projected to grow from USD 14.94 billion in 2023 to USD 24.61 billion by 2030, driven by demand in food packaging and healthcare sectors. However, challenges such as environmental concerns and competition from alternative solutions may impact growth. Opportunities lie in sustainable material innovations and advancements in automation and technology.
The global Healthcare Satellite Connectivity market is poised for significant growth, driven by the increasing demand for telemedicine and secure data transmission in remote areas. Key players like Eutelsat, SpaceX, and Inmarsat are enhancing services through advanced technologies such as AI and 5G integration. However, challenges like high costs and the need for specialized infrastructure remain barriers to widespread adoption.
Novo Nordisk A/S is scaling back its hiring in Denmark after reaching the limits of the local labor market, primarily due to the demand for its drugs Ozempic and Wegovy. While hiring will continue, the company will shift its focus to expanding its workforce in China, France, and the US, particularly in research, development, and manufacturing.
A hard-fought climate finance deal emerged from the latest COP, marked by significant drama, particularly India's strong objections to how contributions were counted. Article 6 on carbon markets was finally agreed upon after years of discussion, but concerns about credit integrity remain. Brazil is set to lead efforts to increase climate finance from $300 billion to $1.3 trillion ahead of the upcoming Belem COP.
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