Vestas Future Questioned After Revenue Forecasts Cut Twice
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Vestas Wind Systems A/S, the biggest wind-turbine maker, fell to its lowest since 2003 in Copenhagen after cutting its sales forecast, prompting analysts to say management’s future and chances to avoid a bid may be in doubt.
Reducing its revenue and profit outlook for the second time in two months yesterday was “another blow to investor confidence” in the Aarhus, Denmark-based manufacturer, which already was at an “all-time low,” said Sean McLoughlin, vice president of clean technology research at HSBC Bank Plc.