Bloomberg News

Vestas Rating Put on Review at DZ Bank After ‘Severe’ Profit Cut

October 31, 2011

Oct. 31 (Bloomberg) -- Vestas Wind Systems A/S had its “buy” recommendation at DZ Bank AG put on review after the wind turbine maker cut its full-year profit forecast.

“The fact that the profit warning is based on ramp-up problems and not on weak demand or other execution problems is certainly surprising,” Sven Kuerten, an analyst at DZ Bank, said in a note. Vestas’ new forecast is “way below expectations” as it was a “severe profit warning,” he said.

To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net


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