Siemens "reduce"

01.02.06 - Jyske Bank

LONDON, February 1 (newratings.com) - Analyst Robert Jakobsen of Jyske Bank reiterates his "reduce" rating on Siemens (SIE-EUR). The target price is set to ?68.

In a research note dated January 26 and published this morning, the analyst mentions that the company has reported its EPS and sales for the previous quarter broadly in-line with the estimates. Siemens? computer servicing division posted higher-than-expected operating losses for the quarter, the analyst says. The company intends to initiate restructuring measures in order to generate operating profits by 2007. The company?s order intake increased by 31% y/y due to large orders, Jyske Bank adds.