Siemens: ODDO BHF still neutral, but raises target price
(CercleFinance.com) - This morning, an Oddo BHF analyst confirmed his "neutral" recommendation on the Siemens share, although, in light of a solid Q3 despite the crisis, announced that he is raising his target price for it.
The broker has therefore raised its target price from 95 euros to 112 euros.
Overall, Q4 should be better than Q3 (in underlying terms), although most numbers should be down Y-o-Y. There is no forecast for EPS, due to the volatile environment and extraordinary items relating to the energy spin-off (including the capital gain in Q4), Oddo BHF adds.
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