SA News • Fri, Oct. 3
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- Gamesa has been rebuilding credibility with solid performance on orders, revenue, and margins - everything the analysts say they want to see.
- I have my concerns that Gamesa's extended austerity program has put the company behind in terms of R&D, but a recent JV with Areva will help the offshore business.
- Gamesa looks fairly valued today unless you believe the company can generate double-digit long-term revenue growth and/or double-digit FCF margins.
- Gamesa's turnaround strategy is paying off in better margins, lower debt, and better capital efficiency.
- Order growth in 2013 covers more than half of management's guidance for 2014.
- A joint venture with Areva could allow the company to become a player in offshore turbines.
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Fri, Oct. 3, 4:21 AM
- In a note yesterday, BofA/ML listed the following Buy ideas:
- ABB (NYSE:ABB), CRH (NYSE:CRH), Gamesa (OTCPK:GCTAF, OTCPK:GCTAY), Hugo Boss (OTCPK:BOSSY, OTC:HUGPF), Imperial Tobacco (OTCPK:ITYBF, OTCQX:ITYBY)
- Firm also listed the following Underperform ideas:
- Daimler (OTCPK:DDAIF, OTCPK:DDAIY), Infineon (OTCPK:IFNNF, OTCQX:IFNNY)
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