Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF) Rating Lowered to Hold at Deutsche Bank Aktiengesellschaft

Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF – Get Rating) was downgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Wednesday, The Fly reports.

Several other brokerages also recently issued reports on GCTAF. Credit Suisse Group raised Siemens Gamesa Renewable Energy from a “neutral” rating to an “outperform” rating in a report on Monday, January 31st. Sanford C. Bernstein downgraded Siemens Gamesa Renewable Energy from an “outperform” rating to a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on Siemens Gamesa Renewable Energy from €18.00 ($19.15) to €15.70 ($16.70) and set a “neutral” rating on the stock in a report on Friday, May 6th. Morgan Stanley cut their price target on Siemens Gamesa Renewable Energy from €14.00 ($14.89) to €11.00 ($11.70) in a report on Friday, May 6th. Finally, HSBC raised Siemens Gamesa Renewable Energy from a “reduce” rating to a “hold” rating and set a $16.00 price target on the stock in a report on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.91.

OTCMKTS:GCTAF opened at $19.18 on Wednesday. The business’s 50 day moving average is $16.90 and its two-hundred day moving average is $20.37. Siemens Gamesa Renewable Energy has a 52 week low of $13.06 and a 52 week high of $35.34.

A hedge fund recently raised its stake in Siemens Gamesa Renewable Energy stock. Cacti Asset Management LLC raised its position in shares of Siemens Gamesa Renewable Energy, S.A. (OTCMKTS:GCTAF – Get Rating) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,000 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Cacti Asset Management LLC’s holdings in Siemens Gamesa Renewable Energy were worth $2,348,000 as of its most recent SEC filing.

Siemens Gamesa Renewable Energy Company Profile (Get Rating)

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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