Equity research on Siemens Gamesa renewable energy - market expectations and valuation

The purpose of this project is to evaluate the equity value of Siemens Gamesa Renewable Energy. In this sense, this project contains a comprehensive financial analysis of the company, as well as an in-depth understanding of the wind market worldwide. A Discounted Cash Flow valuation was performed grounded on the company and industry knowledge, delivering a price target of 24,38€ per share for FY22 and a final recommendation of BUY, with anannualized upside of 23% to the current stock price. Our consolidated report is divided into 6 parts: Company Overview, The Wind Energy Market, The market outlook -expectations for the future per region, Financial –Forecast and Long-term Estimates, Valuation and Conclusions and Recommendations. In this report, it will cover the following 3parts: The market outlook -expectations for the future per region, Financial –Forecast and Long-term Estimates, Valuation and Conclusions and Recommendations