Nordex Secures German Wind Orders as BofA Lifts Target
Nordex confirmed new German turbine projects and a Bank of America upgrade, with shares closing at EUR 39.34 on September 18.
Key points
- Nordex secured orders for 13 N163/6.X and 5 N175/6.X turbines in Germany, adding to its onshore wind backlog.
- Bank of America upgraded its recommendation on September 8, 2026, citing improved earnings growth potential.
- Shares closed at EUR 39.34 on September 18, 2026, sitting within the EUR 19.110 to EUR 51.700 52-week range.
Nordex shares rose to EUR 39.34 on the Frankfurt Stock Exchange on September 18, 2026, following the announcement of new onshore wind orders in Germany. The increase of 0.4 percent from the previous week reflects investor reaction to confirmed project wins that add to the company’s medium-term revenue pipeline.
The move positions the stock in the upper half of its 52-week trading range, which spans from EUR 19.110 to EUR 51.700. This recovery from last year’s low underscores renewed confidence in Nordex’s ability to convert order intake into profitable execution within the European wind sector.
New German projects boost order backlog
Nordex secured two significant contracts in mid-September 2026 that expand its domestic footprint. The first involves project developer TEUT, which ordered 13 N163/6.X turbines for the Schönermark-Passow Wind Farm near Schwedt/Oder in the Uckermark district.
The second contract was awarded to EEF Erneuerbare Energien Fabrik for the Rauschenberg Wind Farm in Hesse. This order comprises five N175/6.X turbines with a hub height of 199 meters and includes a 20-year service contract, providing Nordex with long-term recurring service income alongside the initial equipment sale.
Bank of America upgrades outlook
Bank of America raised its recommendation on Nordex on September 8, 2026, citing strong potential for earnings growth. The upgrade reflects expectations that healthier order intake and improved pricing dynamics in onshore wind will drive profitability over the coming quarters.
As reported by AD HOC NEWS, this positive stance aligns with broader market sentiment. The 12-month average price target for Nordex stood at EUR 48.907 as of September 4, 2026, based on nine buy recommendations and one sell recommendation among analysts.
Valuation reflects recovery from lows
With a market capitalization of EUR 8.710 billion as of September 4, 2026, Nordex remains a significant player in the European wind industry. The current share price of EUR 39.34 is approximately EUR 12.36 below the 52-week high of EUR 51.700.
The gap between the current price and the average analyst target suggests that the market has not yet fully priced in the potential margin improvements. Execution on the new German orders and cost control will be critical for closing this valuation difference.
