NewsSiemens "buy," target price raised
30.01.06 - Dresdner Kleinwort Wasser.
LONDON, January 30 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "buy" rating on Siemens (SIE-EUR), while raising their estimates for the company. The target price has been raised from ?80 to ?82.
In a research note published on January 27, the analysts mention that the company has posted robust order growth for the previous quarter, with 44% in the power generation, 72% in T&D and 65% in the Transportation segments. Siemens' business appears to be stabilising, in view of the company's underlying profit of ?111 million and organic revenue growth of 4% in the previous quarter, Dresdner Kleinwort Wasserstein adds. The EPS estimates for FY06 and FY07 have been raised by 2% and 5%, respectively, to reflect increased growth in the Automation, T&D and Power segments.