Gamesa Corp Tecnologica "sell"

01/02/07 - Ibersecurities

LONDON, January 2 (newratings.com) - Analysts at Ibersecurities maintain their "sell" rating on Gamesa Corp Tecnologica SA (GTQ1). The target price is set to €17.

In a research note published on December 29, the analysts mention that the recent news of the company securing a contract to supply 132 wind turbines to EDP and several contracts with Ibereólica are likely to have a limited positive effect. While the implicit price per Mw in the contracts is positive and is higher than the estimates and positive, the contracts account for only 15% of total estimated sales for 2007, the analysts add.