Siemens Energy: stock down with Oddo cutting target price
(CercleFinance.com) - Oddo maintains its "neutral" rating on Siemens Energy shares, while reducing its corresponding target price from 23 euros to 18.
7 euros.
The broker says that Q2 results were in line with preliminary results, with sales of 6.6 billion euros, down 1.7% LFL, with negative adjusted EBIT of -21 million euros.
The group has finally decided to reduce its FY 2022 targets, with organic sales growth in the Gas & Power (GP) division at the lower end of the range of 1% to 5% (Oddo BHF estimates 2%) and an adjusted EBITA margin of 4.5% to 6.5%.
At the consolidated level, Siemens Energy now expects targets at the lower end of the range (-2% to +3% for organic sales growth and 2% to 4% for its adjusted EBITA margin).
Siemens Energy shares are suffering a power cut this morning - down over 5% in Frankfurt.
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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.
7 euros.
The broker says that Q2 results were in line with preliminary results, with sales of 6.6 billion euros, down 1.7% LFL, with negative adjusted EBIT of -21 million euros.
The group has finally decided to reduce its FY 2022 targets, with organic sales growth in the Gas & Power (GP) division at the lower end of the range of 1% to 5% (Oddo BHF estimates 2%) and an adjusted EBITA margin of 4.5% to 6.5%.
At the consolidated level, Siemens Energy now expects targets at the lower end of the range (-2% to +3% for organic sales growth and 2% to 4% for its adjusted EBITA margin).
Siemens Energy shares are suffering a power cut this morning - down over 5% in Frankfurt.
Copyright (c) 2022 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.