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, a 10 percent increase compared to Thursday’s closing price.

Investor enthusiasm for the Danish wind turbine manufacturer is likely fueled by two recent developments.

The first is a substantial order for 527 megawatts of wind turbines from an undisclosed customer in the United States, announced Thursday evening.

Adding to the positive momentum, JP Morgan has upgraded its assessment of Vestas shares, now recommending increased investment. The financial institution’s new target price for the share is DKK 161, a notable increase from the previous target of DKK 126.

This revised target price has likely contributed to the strong trading activity observed Friday morning. Vestas shares have not reached this level since September of the previous year.

The share had faced pressure partly due to uncertainty surrounding the election of Donald Trump as US president, whose opposition to wind power and support for the oil industry raised concerns about the viability of existing projects and related subsidies.

Prior to the recent US order, Vestas held American orders for approximately 7.5 gigawatts in its order book, extending through 2028.