Siemens Gamesa: Berenberg still on hold, cuts target price
(CercleFinance.com) - Berenberg reinstates its "hold" rating on Siemens Gamesa (SGRE) shares with a lower target price of 12.
5 euros, after lowering its 2022 and 2023 EPS estimates due to lower assumed volumes and margins.
The German broker sees Siemens Energy's upcoming CMD on 24 May as an opportunity to address the issue of a possible buyout of Siemens Gamesa minority shareholders.
"Given the ongoing negative momentum in the business, however, there may be no rush for Siemens Energy to step in if it believes that the SGRE share price could continue to move lower", it warns, however.
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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.
5 euros, after lowering its 2022 and 2023 EPS estimates due to lower assumed volumes and margins.
The German broker sees Siemens Energy's upcoming CMD on 24 May as an opportunity to address the issue of a possible buyout of Siemens Gamesa minority shareholders.
"Given the ongoing negative momentum in the business, however, there may be no rush for Siemens Energy to step in if it believes that the SGRE share price could continue to move lower", it warns, however.
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.