Siemens: Oddo considers share fairly valued

(CercleFinance.com) - Oddo maintains its Neutral rating on the stock, confirming its target price of 112 euros.


The broker's analysts believe that the stock appears to be fairly valued and that 2018 will only see limited momentum. Revenues will increase by less than in 2017 (+3%), the group's restated industrial margins should remain more or less stable and "clean" EPS could be very close to figures of 2017".

Oddo expects satisfactory orders over the quarter at 21.6 billion euros (SGRE 100%-consolidated), with organic sales growth of close to zero (sales of 20.5 billion euros) and an industrial margin of 10.1%.



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