Siemens: BofA sees 'slow start to the year'
(CercleFinance.com) - Bank of America has reiterated its "buy" rating on Siemens, with a target price of 142 euros, after the German industrial group had a "slow start to the year".
Headline numbers were affected by weak margins at both Siemens Gamesa and Siemens Healthineers, as reported earlier this week, the broker pointed out in a "first take" on quarterly results.
However, strong orders in software and China should help offset a "messy" operational quarter in this slow start to 2020, BofA said.
The share is currently up 0.3% at 43.3 euros on Euronext Amsterdam.
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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.
Headline numbers were affected by weak margins at both Siemens Gamesa and Siemens Healthineers, as reported earlier this week, the broker pointed out in a "first take" on quarterly results.
However, strong orders in software and China should help offset a "messy" operational quarter in this slow start to 2020, BofA said.
The share is currently up 0.3% at 43.3 euros on Euronext Amsterdam.
Copyright (c) 2020 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.