Siemens Gamesa Cuts the 2017 EBIT guidance by -12%
- Looking at poor 2017 results
- We were (and now more so) concerned about poor visibility
- Expect price weakness
After having outperformed the Ibex-35 by 9.5% in the last month, we expect that news will be seen as a negative and will trigger short-term selling.
Our Hold recommendation and target price of €14.00 are unchanged.
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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