Deutsche Bank Raises Wartsila Price Target to EUR29 Amid Continued Marine Growth
Deutsche Bank has raised its price target for Wartsila Oyj Abp to EUR29 from EUR25, maintaining a Hold rating ahead of the company's Q4 results on February 4. The bank anticipates a 9% year-on-year organic decline in group orders to EUR2.1 billion, while projecting revenues to rise 9% to EUR2.0 billion, with an adjusted EBIT estimate of EUR240 million, slightly above consensus expectations. Wartsila's continued growth in the marine segment is expected, although variability may arise from energy projects and related orders.
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Deutsche Bank increased its price target on Wartsila Oyj Abp to EUR29 from EUR25, maintaining a Hold rating ahead of the company's Q4 results scheduled for February 4. The Finnish marine and energy equipment manufacturer is expected to continue its growth trajectory in the marine segment, with management indicating an annual growth rate of about 15% over two years.
Deutsche Bank anticipates group orders of EUR2.1 billion for Q4, a 9% year-on-year organic decline, while projecting group revenues of EUR2.0 billion, a 9% year-on-year organic increase. The bank's adjusted EBIT estimate is EUR240 million, reflecting a margin of 12.2%, slightly above consensus expectations of 11.8%. Deutsche Bank noted variability in Wartsila's results may arise from Energy projects and related orders, particularly in base load demand and data centers.
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