Siemens: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF maintains its "neutral" rating on the Siemens share, although has increased its corresponding target price from 84 euros to 95 euros (current price: just under 103 euros, down about 1%), after a presentation by Siemens Energy (SIEN) which confirmed that the recovery could be long and complicated.


The broker says that this seems to be priced into its share, after many years of poor performance at GP and SGRE. The spin-off will finally end with these issues, although Siemens AG has also had to strengthen SIEN's balance sheet and keep certain liabilities.



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