Siemens: shares higher after J.P. Morgan upgrade
(CercleFinance.com) - Siemens shares are up 1.
5% on Tuesday after J.P. Morgan upgraded the stock and raised its target price for the shares of the German industrial conglomerate, as it sees a "valuation opportunity" after their 27% underperformance over the past two years.
The broker has upgraded the Siemens stock from "neutral" to "overweight," with a new target price of 118 euros, vs. 115 euros previously.
J.P. Morgan sees potential for improvements in investor sentiment after a period where the story has "drifted."
"We are running out of upside elsewhere in the coverage, while Siemens has missed out the recent rally," the broker wrote in a note.
In particular J.P. Morgan believes that the Capital Markets Day on 8 May will be the opportunity to refocus on what matters to investors and "clarify" communication.
The Siemens stock is currently up 1.5% at 98.2 euros, outperforming a 0.2% drop in Frankfurt's DAX index.
Copyright (c) 2019 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.
5% on Tuesday after J.P. Morgan upgraded the stock and raised its target price for the shares of the German industrial conglomerate, as it sees a "valuation opportunity" after their 27% underperformance over the past two years.
The broker has upgraded the Siemens stock from "neutral" to "overweight," with a new target price of 118 euros, vs. 115 euros previously.
J.P. Morgan sees potential for improvements in investor sentiment after a period where the story has "drifted."
"We are running out of upside elsewhere in the coverage, while Siemens has missed out the recent rally," the broker wrote in a note.
In particular J.P. Morgan believes that the Capital Markets Day on 8 May will be the opportunity to refocus on what matters to investors and "clarify" communication.
The Siemens stock is currently up 1.5% at 98.2 euros, outperforming a 0.2% drop in Frankfurt's DAX index.
Copyright (c) 2019 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.