Stock Spotlight: Tailwinds on the horizon for Ørsted amid sustained project pipeline

Shares down 13.1% year-to-date

Weaker-than-expected second quarter earnings have knocked shares in Ørsted, the world’s largest developer of offshore wind power, although analysts said structural trends such as the energy transition are set to benefit the company in the long-term.

The firm, which is listed on Nasdaq Copenhagen stock exchange, has seen its share price drop by over 14% in the last month, even after it raised its 2022 full-year outlook due to soaring power prices.  Year-to-date, Ørsted shares have fallen by 13.1%, according to Morningstar data, partly owing to low wind speeds hitting revenues.  The Danish renewables giant has missed consensus expectations for its core offshore wind business three times in a row: at its full-year results in February, first-quarter results in April and second-quarter results published in August.  According to Tan...