Barclays Upbeat on Ørsted After 'Reassuringly Uneventful' Q2 Results; Equal Weight Retained

04:49 AM EDT, 08/14/2026 (MT Newswires) -- Barclays sees Ørsted (ORSTED.CO) as "back on firmer footing" after posting "reassuringly uneventful" second-quarter results, but noted that the Danish offshore energy company needs auction wins to support its growth over the medium term. In a Thursday note, the research firm said Ørsted's execution of construction projects remains solid as work on key wind farms continues to be on track. "After several turbulent years, we now see management stabilising the balance sheet, rationalising the portfolio, focusing on capital discipline in core markets and prioritising returns over volume. We believe the trade-off for tighter capital discipline is lower near‑term growth," according to analysts. "We forecast flat EPS in 2027-30, versus ~8% EPS CAGR for the European utilities sector, making Ørsted one of the slower growers this decade. If Orsted secured wind capacities in the upcoming auctions, we would see EPS growth from 2031 picking up materially with a 11.5% CAGR." The equal weight rating on the stock was reiterated, with a price target of 160 Danish kroner.