Siemens Energy: Credit Suisse encouraged by turbines
(CercleFinance.com) - Credit Suisse has an 'outperform' rating on Siemens Energy shares, with a target price of E27, encouraged by the continued momentum in the gas turbine market (particularly large turbines) and its ability to grow market share.
"As the company mentioned in its Q2 FY23 conference call, it booked 31 units of turbines >10MW vs. a total of 67 units in the market, achieving a No.1 position in the quarter," the broker points out.
Credit Suisse also says that Siemens Energy now expects LFL revenue growth of 10%-12% in its Gas Services division, up from a previous range of 0-4%.
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"As the company mentioned in its Q2 FY23 conference call, it booked 31 units of turbines >10MW vs. a total of 67 units in the market, achieving a No.1 position in the quarter," the broker points out.
Credit Suisse also says that Siemens Energy now expects LFL revenue growth of 10%-12% in its Gas Services division, up from a previous range of 0-4%.
Copyright (c) 2023 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.