Siemens Healthineers: Berenberg lowers target price
(CercleFinance.com) - Berenberg announced on Wednesday that it had lowered its target price for Siemens Healthineers from E58.
2 to E57.8, while renewing its buy recommendation on the stock.
The analyst acknowledges that the group once again posted "mixed" results for the past quarter, with the weakness of its medical imaging business not fully offset by the strength of its diagnostic tools business.
Despite this, the broker says that it remains "cautiously optimistic" about the stock, particularly given its P/E of 20x, while it sees earnings growth of between 10% and 15% by 2025, driven by a more favourable comparison basis in China, the disappearance of the Covid-19-related impact, and the ongoing turnaround in the imaging business.
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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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
2 to E57.8, while renewing its buy recommendation on the stock.
The analyst acknowledges that the group once again posted "mixed" results for the past quarter, with the weakness of its medical imaging business not fully offset by the strength of its diagnostic tools business.
Despite this, the broker says that it remains "cautiously optimistic" about the stock, particularly given its P/E of 20x, while it sees earnings growth of between 10% and 15% by 2025, driven by a more favourable comparison basis in China, the disappearance of the Covid-19-related impact, and the ongoing turnaround in the imaging business.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.