Siemens : Oddo BHF remains positive after CMD

(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Siemens shares, along with its E220 target price, the day after a CMD focused on the Smart Infrastructure division (28% of Siemens sales and 33% of industrial profit).


Judging targets set to be credible, the broker believes that Smart Infrastructure should remain the biggest contributor to the group's results for at least another two years (first time in 2024), if not longer.

We also believe that the Group should benefit in 2025 from a gradual improvement in its momentum in the digital industries division, with demand for discrete automation expected to improve from the second half of the year, it continues.


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