Declining commodity costs and fewer supply chain troubles are a few of the factors leading US-based bank Citigroup to foresee Vestas booming in the near future, reports Danish business daily Børsen.

”We think we’re at a turning point. We believe the US will be the market to surprise on orders in 2023 – and that gearing will peak in the fourth quarter of this year to fall quickly thereafter,” Citigroup notes, according to the newspaper.

Head of Equity Research Jacob Pedersen from Denmark’s Sydbank also sees bright lights for Vestas in his crystal ball, pointing out certain signs of having overcome the worst doldrums, albeit warning that this winter could be challenging.

Senior Equity Analyst Janne Vincent Kjær from compatriot Jyske Bank also shares a positive forecast for Vestas noting substantial improvement in future order intake on account of the US market.

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