Siemens: share price rises, broker raises target

(CercleFinance.com) - Siemens is up more than 3% in Frankfurt as Berenberg today raised its price target on the stock from 215 to 245 euros, confirming its Buy rating on the stock.


In a research note, the analyst considers the scenario of further simplification of the German industrial group as both 'necessary and likely'.

The argument that Siemens is undervalued according to the sum-of-the-parts method is neither new nor contrary to market sentiment ('contrarian')", the financial intermediary points out in a note.

Recalling that it has long considered this factor to be a fundamental part of its favorable investment theory on the stock, Berenberg considers it highly likely that management will seek to further simplify the company's business portfolio in order to create more value.

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