RESEARCH ALERT - Bear Stearns upgrades Vestas
Date: 30-Apr-02
Country: UK
It also said it had raised its price target on fellow wind turbine manufacturer NEG Micon to 350 Danish crowns from 330 crowns while maintaining its "buy" rating on the stock.
Bear Stearns cited as its reason the U.S. Senate's decision late last week to pass an energy reform bill which is seen boosting the industry.
"In our view, the vote in the Senate suggests that there is a very broad majority in U.S. politics supporting a significant increase in the usage of wind power," it said.
By 1120 GMT, Vestas shares were 10.3 percent higher at 262.5 crowns, while NEG Micon shares were up 7.8 percent at 296.5 crowns.
