Siemens: shares rise after Commerzbank upgrade
(CercleFinance.com) - Shares in Siemens are up over 2% on Wednesday after Commerzbank upgraded the stock from "hold" to "buy," saying that the strong performance of the digital factory unit is not yet adequately priced in.
The German broker says the market is too focused on the margin squeeze in the gas and power division, while several other segments, especially digital factory (40% of enterprise value excluding Siemens Healthineers), have performed better than expected.
Commerzbank has also raised its target price for the share from 122 euros to 130 euros.
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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.
The German broker says the market is too focused on the margin squeeze in the gas and power division, while several other segments, especially digital factory (40% of enterprise value excluding Siemens Healthineers), have performed better than expected.
Commerzbank has also raised its target price for the share from 122 euros to 130 euros.
Copyright (c) 2018 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.