Vestas shares experienced a significant surge on the Copenhagen stock exchange Friday morning, with the share price rising by a double-digit percentage. The stock is currently trading at 116, marking a 10 percent increase compared to Thursday’s closing price.

The surge is likely driven by two key developments: a substantial new order from the United States and an upgrade from a major financial institution.

Vestas announced Thursday evening that it had secured an order for wind turbines with a total capacity of 527 megawatts from an undisclosed customer in the USA.

Adding to the positive momentum, JP Morgan upgraded its assessment of Vestas shares Friday morning, now recommending a more positive investment strategy. The financial institution’s new target price for the share is DKK 161, a considerable increase from its previous target of DKK 126. This revised assessment has likely played a significant role in energizing trading activity.