Orsted AS

ORSTED: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	DKK 718.00	Wkf	Mjlqyzy

Orsted: Market Overestimates the Impact of a Trump Victory

Tancrede Fulop

Jul 15, 2024

No-moat Orsted is down by 6% at the time of writing, which we believe is because of reports that Donald Trump’s chances to be reelected president of the US have improved after the assassination attempt on July 13. We believe the market is overestimating the impact of Trump's anti-offshore wind stance on Orsted. Therefore, we confirm our DKK 540 fair value estimate, offering a material valuation upside.

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