Siemens : HSBC upgrades stock
(CercleFinance.com) - HSBC Global Research upgrades Siemens shares from 'reduce' to 'hold', with a new target price of E185, in a note devoted to European capital goods stocks.
The broker believes that the recent publication of 2024 results has helped to recast expectations for the German electrical and electrotechnical equipment group, leaving more limited room for downside potential.
Aside from political risks, lower interest rates and US-led capital expenditure growth in 2025 keep us optimistic about a broader cyclical recovery, HSBC judges at the sector level.
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