Siemens Gamesa: UBS raises target price
(CercleFinance.com) - UBS has raised its target price on the Siemens Gamesa share, a maker of wind turbines based in Spain, from 14.
50 euros to 16.50 euros, seeing "more upside still to come" in the share price.
"We see further upside (...) given accelerated achievement of cost-out programme which adds 80-100 basis points of incremental margins to our estimates," UBS said in a note to clients.
The broker has a "buy" rating on the share.
Last week, the company reported first-half results that were slightly ahead of expectations.
The shares are currently trading down 2.7% at 14.5 euros in morning trading on Monday.
Copyright (c) 2019 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.
50 euros to 16.50 euros, seeing "more upside still to come" in the share price.
"We see further upside (...) given accelerated achievement of cost-out programme which adds 80-100 basis points of incremental margins to our estimates," UBS said in a note to clients.
The broker has a "buy" rating on the share.
Last week, the company reported first-half results that were slightly ahead of expectations.
The shares are currently trading down 2.7% at 14.5 euros in morning trading on Monday.
Copyright (c) 2019 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.