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Siemens: Credit Suisse still a buyer after results

( - Credit Suisse has reiterated its "outperform" rating on Siemens shares, along with its target price of 165 euros (current price: 132 euros, +2%), "On the back of a very strong end to FY2022 and a clearly positive outlook for FY23".

The broker raised its adjusted EBITA forecast for the German industrial group by around 5%, although said that it considered it to be "conservative relative to company guidance and vs outlooks provided by peers".

In particular, Credit Suisse points to Siemens' exposure to electrification and energy efficiency, "where the company is demonstrating the ability to deliver performance at least on par and regularly ahead of peers".

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