Siemens Energy: Deutsche Bank raises TP

(CercleFinance.com) - On Wednesday Deutsche Bank reiterated its buy recommendation on Siemens Energy shares, raising its target price for them from E23 to E26, hailing the German group's good start to the year.


The analyst believes that the company's recently raised annual forecasts could prove rather cautious and says he expects its performance to come out at the top end of the range.

With the balance sheet structure now restored (...) and signs of recovery in wind power, investors will finally be able to focus on the rest of the business (71% of sales), which is operating at full capacity, the broker adds.

DB adds that the rich valuation posted by its US counterpart GE Vernova, with an EV/earnings multiple of 1.23x compared with just 0.68x for Siemens Energy, should provide further support during this recovery process.


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.