Siemens: Jefferies still a buyer after CMD

(CercleFinance.com) - Jefferies maintains its 'buy' recommendation and target price of 225 euros on Siemens shares, following a CMD that reinforces its confidence in the smart infrastructure division's ability to achieve its revised upward medium-term targets.


Notably citing a lower-cost manufacturing base and further productivity improvements, the broker considers the division's new profitability targets of 16-20% to be 'eminently achievable'.

Continued double-digit growth in data centers, together with an improved outlook in building, support smart infrastructure's 6-9% growth target, Jefferies adds.


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