Superlative 2016 results
Gamesa reported another set of spectacular results for 12M16, ahead of the consensus and also of our estimates.
The guidance points at another record year for Gamesa (stand alone, no contribution from Siemens Wind) with 15% growth in sales and EBIT.
These results support our Buy recommendation. The improved outlook should prompt revisions in target prices beyond current levels and provide further upside for the shares.
Siemens Gamesa Renewable Energy is a holding company. Through its subsidiaries, Co. is engaged in the business of renewable energy sources, primarily wind power but also including solar energy where its acts as a supplier and manufacturer of technological products, installations and services. Co. is organized along the lines of: promotion, construction and sale of wind farms, engineering, design, manufacture and sale of wind turbines, manufacture of thermic and photovoltaic solar components, promotion and sale of photovoltaic solar farms. Co. also participates in both Spanish and European working groups aimed at establishing priorities for its sector's research & development work.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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