Siemens: Credit Suisse raises target price.

(CercleFinance.com) - Credit Suisse has raised its target price on Siemens to 140 euros, from 135 euros, while maintaining its "neutral" rating on the stock.


The broker has increased its earnings estimates by around 3% for fiscal years 2017 and 2018, driven by the incorporation of the Mentor Graphics acquisition, better organic growth in digital factory (DF) and margin performance in wind, energy Management and mobility divisions.

Credit Suisse cites a "strong delivery," but also says it is now "getting harder" to be surprised.

The broker also says that it has concerns over the gas power generation outlook for the power & gas unit, and to some extent over pricing pressure across smaller divisions as raw materials prices have risen further.

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