Siemens: medium-term programme on the horizon, says UBS
(CercleFinance.com) - UBS this morning maintained its 'Buy' recommendation on the share of German conglomerate Siemens.
The analysts cite the restructure negotiations announced yesterday. The 12-month price target remains at 138 euros.
According to the specialists, the negotiations on the struggling branches of Power & Gas (PG) and Process Industries & Drives (PD), which the management reported on yesterday, should culminate in a final agreement “by the summer”. Siemens plans to eradicate 6,900 jobs in these divisions, half of which in Germany. This should contribute to restoring their profitability.
More generally, UBS issues a reminder that these aspects affected the Siemens share at the end of last year, especially the problems faced by the group on the Indian wind turbine market (which had an impact on Siemens Gamesa) and the weak demand for gas turbines.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The analysts cite the restructure negotiations announced yesterday. The 12-month price target remains at 138 euros.
According to the specialists, the negotiations on the struggling branches of Power & Gas (PG) and Process Industries & Drives (PD), which the management reported on yesterday, should culminate in a final agreement “by the summer”. Siemens plans to eradicate 6,900 jobs in these divisions, half of which in Germany. This should contribute to restoring their profitability.
More generally, UBS issues a reminder that these aspects affected the Siemens share at the end of last year, especially the problems faced by the group on the Indian wind turbine market (which had an impact on Siemens Gamesa) and the weak demand for gas turbines.
Copyright (c) 2018 CercleFinance.com. All rights reserved.