Siemens Gamesa: Credit Suisse downgrades stock
(CercleFinance.com) - Credit Suisse has downgraded its rating on the Siemens Gamesa share to neutral (vs.
outperform), but has raised its target price to 23.40 euros (from 16.50 euros).
"We increase our offshore wind installation forecast to 5GW in 2025 and raise our growth rate across 2027-40 to c5% p.a. (from c2.5%)," the broker said.
"Our 2021E/22E/23E EPS estimates fall by 41%/16%/5% to align with guidance and the costs of delivering the business plan".
Credit Suisse expects EBIT margins of 13% in offshore, 20% in services and 10% in onshore, which will enable the entire group to reach a range of 8%-10%.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
outperform), but has raised its target price to 23.40 euros (from 16.50 euros).
"We increase our offshore wind installation forecast to 5GW in 2025 and raise our growth rate across 2027-40 to c5% p.a. (from c2.5%)," the broker said.
"Our 2021E/22E/23E EPS estimates fall by 41%/16%/5% to align with guidance and the costs of delivering the business plan".
Credit Suisse expects EBIT margins of 13% in offshore, 20% in services and 10% in onshore, which will enable the entire group to reach a range of 8%-10%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.