Vestas experienced a significant surge on the Copenhagen Stock Exchange Friday morning, with shares rising approximately 10 percent. This increase, if sustained, would mark the company’s fifth-largest daily gain in the past five years.

The surge follows a recent announcement of a 527-megawatt wind turbine order in the United States from an undisclosed customer and an upgraded recommendation from J.P. Morgan. The financial institution revised its rating of Vestas from “neutral” to “overweight,” accompanied by a target price increase from DKK 126 to DKK 161 per share.

J.P. Morgan’s analyst, Akash Gupta, cited Vestas’s cost control measures as a key factor in the revised outlook, anticipating improved margins. Gupta’s note also highlighted the “great progress” demonstrated by Vestas in installing its first V226 turbines.

Furthermore, J.P. Morgan anticipates double-digit annual growth for Vestas towards 2030. The combination of these positive factors contributed to the 9.7 percent price increase observed at 09:30 on Friday.