Siemens Healthineers: UBS downgrades stock

(CercleFinance.com) - UBS has downgraded the stock to Neutral (from Buy), reducing its target price to E51 (from E56 ,following an analysis of the Chinese market.


UBS believes that the analysis of China has led to a downgrading of the medium-term outlook.

Our more cautious short-term outlook on the recovery of the Chinese market and potential medium-term difficulties due to Chinese competition are behind the downgrading of our rating to Neutral, it says.

It should be remembered that the group has maintained its FY outlook for LFL sales growth of 4.5% to 6.5%.

However, Siemens Healthineers has lowered its growth outlook for its Imaging Division to 4.5%-5.5%, compared with 6%-8% previously.


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