Siemens Healthineers: Berenberg lowers target price

(CercleFinance.com) - Berenberg announced on Wednesday that it had lowered its target price for Siemens Healthineers from E58.
2 to E57.8, while renewing its buy recommendation on the stock.

The analyst acknowledges that the group once again posted "mixed" results for the past quarter, with the weakness of its medical imaging business not fully offset by the strength of its diagnostic tools business.

Despite this, the broker says that it remains "cautiously optimistic" about the stock, particularly given its P/E of 20x, while it sees earnings growth of between 10% and 15% by 2025, driven by a more favourable comparison basis in China, the disappearance of the Covid-19-related impact, and the ongoing turnaround in the imaging business.


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