Siemens Healthineers: Berenberg cuts target price
(CercleFinance.com) - Berenberg has cut its target price for the Siemens Healthineers stock from 43 euros to 42 euros, although still recommends investors buy the shares of the German medical technology company, saying that the situation is "set to improve.
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Berenberg said it is understandable that the underwhelming past quarter - mainly in diagnostics - has resulted in some profit-taking on the shares.
"However, with full guidance reaffirmed and with shares down by 12% from recent highs, we believe the market has become too pessimistic about the company's earnings prospects," it said.
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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.
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Berenberg said it is understandable that the underwhelming past quarter - mainly in diagnostics - has resulted in some profit-taking on the shares.
"However, with full guidance reaffirmed and with shares down by 12% from recent highs, we believe the market has become too pessimistic about the company's earnings prospects," it said.
Copyright (c) 2019 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.