Siemens: Jefferies lowers target price

(CercleFinance.com) - Jefferies confirms its 'buy' recommendation on Siemens shares, with a target price lowered from E230 to E225, after adjusting its FY 2025 estimates for the German electronics and electrotechnical equipment group.


It remains difficult to talk about a recovery in China, but recent stimulus measures in that country and more positive comments from distributors on inventories suggest that orders will improve in 2025, the broker warns.

It reduces its estimates for DI (digital industries) to start 2025 on a more cautious note, but believes that, with an EBITA of 11.9x, Siemens offers attractive value, particularly given the scale of SI (smart infrastructures) development.


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