The US analyst firm Bernstein Research has upgraded Siemens from “Market-Perform” to “Outperform” and raised the price target from 161 to 169 euros.
The long-term prospects for the capital goods industry remain good, but investors should be prepared for a “hiccup” in the third quarter in the course of a post-corona normalization, wrote analyst Nicholas Green in an industry study available on Monday. Then the orders are likely to fall in many areas and the price dynamics will subside. In this environment, investors should focus on companies that are active in the areas of electrical engineering as well as automation and software. Siemens is the most widely positioned here. Other favorites are Schneider Electric and Legrand because of the focus on the renewal of electrical engineering. ABB, on the other hand, first needs clearer communication in terms of strategy and software. The expert remains cautious about Siemens Energy because of the charges from Gamesa and for KION, since the growth expectations of many investors are too high and the debt ratio has risen.
The Siemens share shows up in XETRA trading at times 0.89 percent stronger at 138.72 euros.
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Original study published: 2023-09-02 / 14:05 / UTC
First distribution of the original study: 04.09.2023 / 05:00 / UTC
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