Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF) Upgraded to “Hold” by HSBC

HSBC upgraded shares of Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF) from a reduce rating to a hold rating in a research note released on Monday, Analyst Ratings Network reports. They currently have $20.00 target price on the stock.

A number of other research firms have also issued reports on GCTAF. Societe Generale lowered shares of Siemens Gamesa Renewable Energy from a buy rating to a hold rating and set a $27.00 price objective on the stock. in a research note on Thursday, July 15th. Sanford C. Bernstein assumed coverage on shares of Siemens Gamesa Renewable Energy in a research note on Thursday, March 25th. They set an outperform rating on the stock. Berenberg Bank reiterated a hold rating on shares of Siemens Gamesa Renewable Energy in a research note on Thursday, May 6th. The Goldman Sachs Group set a $31.18 price objective on shares of Siemens Gamesa Renewable Energy and gave the company a buy rating in a research note on Thursday, July 15th. Finally, JPMorgan Chase & Co. reiterated an overweight rating on shares of Siemens Gamesa Renewable Energy in a research note on Friday, July 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $25.80.

GCTAF opened at $27.95 on Monday. The firm’s 50 day moving average price is $31.49. Siemens Gamesa Renewable Energy has a 52-week low of $22.01 and a 52-week high of $48.65.

A hedge fund recently raised its stake in Siemens Gamesa Renewable Energy stock. Cacti Asset Management LLC increased its stake in Siemens Gamesa Renewable Energy, S.A. (OTCMKTS:GCTAF) by 19.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,500 shares of the company’s stock after buying an additional 24,500 shares during the period. Siemens Gamesa Renewable Energy comprises about 0.5% of Cacti Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Cacti Asset Management LLC’s holdings in Siemens Gamesa Renewable Energy were worth $5,875,000 as of its most recent filing with the Securities and Exchange Commission.

About Siemens Gamesa Renewable Energy

Siemens Gamesa Renewable Energy, SA, together with its subsidiaries, supplies wind power solutions in Europe, the Middle East, Africa, Americas, Asia, and Australia. It operates through two segments, Wind Turbines and Operation and Maintenance. The Wind Turbines segment offers wind turbines for various pitch and speed technologies, as well as provides development, construction, and sale of wind farms.

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Analyst Recommendations for Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF)

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