Vestas raises cash flow target, shares +6%

|About: Vestas Wind Systems A/S ADR (VWDRY)|By:, SA News Editor

Vestas Wind Systems (VWDRY +6%) raises its cash flow target for the third time in a year, as the wind turbine manufacturer shows further signs that its recovery is taking hold.

Vestas says its free cash flow last year would total ~€1B vs. a previous forecast of €500M-€700M and a year ago expecting cash flow just above zero.

Vestas enjoyed one of its busiest-ever months for orders in December as it unveiled a number of large U.S. deals involving more than 400 turbines from the likes of Enel Green Power and First Wind.