Siemens: profit taking wipes out yesterday's rise
(CercleFinance.com) - Siemens shares fell on Friday, posting the largest drop on Germany's DAX index, as a round of profit taking wiped out yesterday's gains.
Siemens shares rose over 1% on Thursday after BofA Global Research increased its target price from 135 euros to 142 euros, forecasting a "big year" for the German industrial group.
"2020 is a big year, with the planned energy spin in September unlocking fair value in digital industries", the broker said, maintaining its "buy" rating on the share.
The stock was down over 1% this morning on the Frankfurt Stock Exchange, at 117.1 euros. It has however risen by more than 21% over the past three months.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Siemens shares rose over 1% on Thursday after BofA Global Research increased its target price from 135 euros to 142 euros, forecasting a "big year" for the German industrial group.
"2020 is a big year, with the planned energy spin in September unlocking fair value in digital industries", the broker said, maintaining its "buy" rating on the share.
The stock was down over 1% this morning on the Frankfurt Stock Exchange, at 117.1 euros. It has however risen by more than 21% over the past three months.
Copyright (c) 2020 CercleFinance.com. All rights reserved.