Orsted AS Stock Price Declines 30%

Orsted AS, a leading offshore wind farm developer, has experienced a decline in its stock price over the past week. The company’s shares have lost 30% of their value.

Price Target Adjustments

Jefferies and Nykredit have both lowered their price targets for Orsted. The adjustments were made due to concerns over the company’s US offshore wind business.

Credit Rating Downgrade

S&P Global Ratings has downgraded Orsted’s credit rating. The downgrade was attributed to increasing risks to the company’s US operations.

Company Response

Despite the challenges, Orsted’s new CEO is working to address the issues and get the company back on track.