Orsted A/S

ORSTED: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	DKK 758.00	Yrdg	Psncjdyq

Orsted: Sunrise Wind Project Likely to Be Ditched After Failure to Get Extra Subsidies; Shares Cheap

Tancrede Fulop

Oct 13, 2023

We confirm our DKK 600 fair value estimate for no-moat Orsted after the New York State Public Service Commission denied the firm's request for a hike of the subsidy for the 0.9-gigawatt Sunrise Wind project off the New York coast that it co-owns with Eversource. Shares are materially undervalued.

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