02:57 AM EDT, 05/11/2026 (MT Newswires) -- Berenberg adjusted its price target and earnings estimates for Vestas Wind Systems (VWS.CO) after the Danish wind turbine manufacturer reported better-than-expected performance in the first quarter.

"Vestas reported a solid beat relative to consensus expectations for Q126 on 6 May, driven by higher offshore revenue and Power Solutions margins, which offset weaker Service revenue. Guidance of 6-8% EBIT margins for FY26 was reiterated. Onshore order intake was light while Offshore was very strong, leaving an overall book-to-bill of 1.6x. We see risks around the offshore ramp-up fading, which leaves the Service recovery as the key risk to the equity story. We increase our price target to DKK196 [from DKK175] on an improved risk/reward outlook; we remain Hold-rated,"the research firm said in a note published May 8.

Although management anticipates the offshore segment will remain in the red in full-year 2026, analysts expect ongoing efficiency gains to bolster margins through the remainder of the year and into 2027, remaining a "key positive driver"for margins in the coming quarters.

On the financial side, Berenberg's EPS forecasts for 2026 and 2027 were boosted 9% and 1.5%, respectively, as increased margins in power solutions offset a decrease in the service division's assumed revenue.