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Vestas Slumps to 9-Year Low After Targets Cut: Copenhagen Mover

Vestas Wind Systems A/S fell to the lowest in almost nine years as Morgan Stanley and Jyske Bank A/S cut their price estimates for the largest wind-turbine maker.

Vestas slid as much as 4.7 percent to 47.83 kroner, the lowest price since May 30, 2003. Morgan Stanley cut its estimate for the Aarhus, Denmark-based company to 55 kroner from 66 on an “uncertain” outlook for the wind industry in the medium term and increased competition putting pressure on margins.