Credit Suisse Group Downgrades Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF) to Neutral

Siemens Gamesa Renewable Energy (OTCMKTS:GCTAFGet Rating) was downgraded by analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other analysts have also recently commented on GCTAF. HSBC raised shares of Siemens Gamesa Renewable Energy from a “reduce” rating to a “hold” rating and set a $16.00 target price for the company in a research note on Thursday, May 19th. Sanford C. Bernstein lowered shares of Siemens Gamesa Renewable Energy from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 24th. Morgan Stanley decreased their price target on shares of Siemens Gamesa Renewable Energy from €14.00 ($15.05) to €11.00 ($11.83) in a report on Friday, May 6th. Citigroup decreased their price target on shares of Siemens Gamesa Renewable Energy to €19.00 ($20.43) and set a “buy” rating on the stock in a report on Thursday, April 21st. Finally, Jefferies Financial Group began coverage on shares of Siemens Gamesa Renewable Energy in a report on Monday, April 4th. They issued a “hold” rating and a $17.30 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Siemens Gamesa Renewable Energy has a consensus rating of “Hold” and a consensus target price of $19.80.

GCTAF stock opened at $18.99 on Friday. Siemens Gamesa Renewable Energy has a one year low of $13.06 and a one year high of $35.34. The company has a 50 day moving average price of $16.87 and a two-hundred day moving average price of $19.94.

A hedge fund recently raised its stake in Siemens Gamesa Renewable Energy stock. Cacti Asset Management LLC lifted its holdings in shares of Siemens Gamesa Renewable Energy, S.A. (OTCMKTS:GCTAFGet Rating) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

About Siemens Gamesa Renewable Energy (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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