Investment bank Jefferies believes that the sentiment around Danish wind power company Vestas is at the bottom and the stock is valued at the lower end of its historical range.

However, Jefferies believes that confidence in Service revenues could strengthen and that policy clarity could lead to a significant recovery from current levels.

The bank raises Vestas to buy from hold. The target price is lowered to DKK 135, from DKK 160. This means a price potential of over 40 percent against yesterday's last price paid at SEK 95.22.