(CercleFinance.com) – AlphaValue lowered its price target on Siemens Gamesa on Friday, which it reduced from 19.2 to 17.4 euros, while renewing its recommendation to ‘lighten up’ the title.
The design office – which predicts a year 2022 “even more difficult” than the previous ones for the manufacturer of wind turbines – indicates that it has lowered its forecasts of results in the wake of the latest warning issued by the group.
While it notes that this ‘warning’ is due, once again, to heavy charges on the most complex contracts, AlphaValue expects supply problems, raw material price inflation and High logistics costs are still penalizing activity this year, with no real lull in sight.
The Paris firm also warns that the measures taken by the industrial group to cushion these negative elements will not bear fruit for some time.
‘Therefore, we recommend to act with caution when building positions within the values of the sector’, he warns.
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