Siemens: Jefferies raises target price

(CercleFinance.com) - Jefferies reinstates its "buy" rating on Siemens shares, having increased its corresponding target price from 164 euros to 170 euros, noting that the stock is trading at a very attractive FCF yield of 6.
2%, vs. its coverage on 4.4%.

In the run up to Q2 results on 7 May, the broker expects the group's industrial EBITA to beat the consensus by 7%, "where we forecast a DI driven 7% beat of group industrial EBITA due to stronger short-cycle trends".

Jefferies also expects the German industrial group's stock to appreciate towards an industry multiple over the next 12 months, "driven by above sector average growth and margin outlook".


Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.