Spain's Top Stock: A Renewable-Energy Company That Isn't Abengoa
- Gamesa has surged 106% this year as analysts see sales rising
- Abengoa has slumped a record 85%, and most analysts say sell
This article is for subscribers only.
As 2015 draws to a close, traders in Spanish renewable-energy companies are either kicking themselves or celebrating.
Those who bet on wind-turbine maker Gamesa Corp. Tecnologica SA saw their returns more than double this year as the stock rose the most in the IBEX 35 Index. Investors in Abengoa SA shares, on the other hand, lost 85 percent through yesterday as ballooning debt and a lack of funds put the company on the brink of bankruptcy. Gamesa rose 3.4 percent by the close of trading in Madrid today, while Abengoa slid 4.3 percent.