Siemens: Jefferies cuts target price, but still a buyer.
(CercleFinance.com) - Broker Jefferies has cut its target price for the Siemens stock from 155 euros to 150 euros, although reiterates its "buy" rating, seeing the German industrial conglomerate stock's recent weakness as representing a good entry point for investors.
"While Siemens remains by far our preferred large electrical, we thought that the Q3 results were mixed and on balance slightly disappointing," the broker said.
Jefferies has reduced both its operating profit and EPS estimates by 2%-3% over 2018 and 2019, in its wake reducing its target price for the share. However, it believes that the fall in the share price relative to its sector will fall over time.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"While Siemens remains by far our preferred large electrical, we thought that the Q3 results were mixed and on balance slightly disappointing," the broker said.
Jefferies has reduced both its operating profit and EPS estimates by 2%-3% over 2018 and 2019, in its wake reducing its target price for the share. However, it believes that the fall in the share price relative to its sector will fall over time.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.