Siemens Energy: Barclays raises target price

(CercleFinance.com) - Barclays has reinstated its 'overweight' recommendation on Siemens Energy, and raised its target price from E15 to E16, after increasing its estimates for the German energy equipment manufacturer.


In particular, the broker points out that the G&P business (gas and electricity) is going from strength to strength, and that risks to the group's balance sheet are diminishing, thanks to prepayments and divestments.

Barclays also points to an absence of further bad news in wind power, a business for which it still sees a negative value of E4bn implicit in the group's valuation.


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