Waertsilae Advances on Power Plant Order Outlook: Helsinki MoverChristian Wienberg
Waertsilae Oyj rose the most in 11 weeks in Helsinki trading on speculation the Finnish power plant supplier will win more orders this year as utilities resume investments.
Waertsilae advanced as much as 4.2 percent to 34.10 euros, the biggest gain since Oct. 17. The stock rose 4.1 percent to 34.07 euros at 12:43 p.m. in the Finnish capital. Trading volume was at 21 percent of the three-month daily average.
Waertsilae, which also makes ship engines, said today it won a 184 million-euro ($244 million) order for a Jordanian power plant, which will be operational in February next year. Danske Bank A/S reiterated its recommendation investors buy the stock of the Helsinki-based company, citing the power plant unit’s growth prospects.
“We are positive on Waertsilae as it enters 2013,” the Copenhagen-based Danske Bank said earlier today in a note to clients. Orders may bounce back “driven by overall gas power plant investment recovery and Waertsilae’s higher market share,” the bank said.
Waertsilae on Oct. 17 raised its 2012 sales forecast and reported third-quarter net income that beat analyst estimates amid a market for power plants that the company characterized as “active.”