Beyond gaining value in yesterday's share price surge, Vestas equity could also be impacted by weak performance reported by competitors Nordex and turbine blade manufacturer TPI Composites, both of which announced full-year guidance downgrades on Monday, according to Janne Vincent Kjær, senior equity analyst at Danish bank Jyske Bank.

Nordex now guides for a 2021 earnings margin before interest, taxes, depreciations and amortizations of 1 percent against the prior spread of 4-5.5 percent – an adjustment for this year that's to an equal extent about what the German OEM expects of next year.

"It's just as much a question of 2022 forecasts and the effects of dramatically rising costs of logistics and commodities. [Nordex] said it expects cost pressure to continue into 2022. That's also in line with Vestas' indications," says Kjær.

Some optimism also appeared Monday when Siemens Gamesa said it expects higher prices to gradually taper off next year.

Besides Nordex, TPI, which supplies roughly percent of Vestas' blades, also booked a downward adjustment on Monday to its 2021 financial outlook.

"[TPI Composites] is also hit by rising expenses, and we've seen that epoxy, which is used in blade production, has also been much more expensive. They haven't been able to pass the bill on to customers, despite having raised prices by 19 percent. So, that's also something that will affect Vestas. It's important to remember that blades comprise around 20 percent of total wind turbine costs," says Kjær.

Vestas' equity, which appreciated by 6.7 percent Monday, dips Tuesday ahead of noon by 0.9 percent to DKK 221.90 (EUR 29.71).

Nordex reports sharp guidance cut 

Siemens Gamesa can't say when things will normalize