Siemens "buy"

22.03.06 - Dresdner Kleinwort Wasser.

LONDON, March 22 (newratings.com) - Analysts at Dresdner Kleinwort Wasserstein maintain their "buy" rating on Siemens (SIE). The target price is set to ?82.

In a research note published this morning, the analysts mention that Joe Kaeser, the head of strategy at the company, has been named to replace the current CFO, who is resigning for personal reasons. An external candidate for the CFO position would have been better for fueling change at Siemens, the analysts believe. With the appointment of Joe Kaeser, change at the company is likely to continue to be slow, Dresdner Kleinwort Wasserstein adds.