Siemens "reduce"

03.05.06 - Jyske Bank

LONDON, May 3 (newratings.com) - Analyst Per Hansen of Jyske Bank reiterates his "reduce" rating on Siemens (SIE-EUR). The 12-month target price is set to ?80.

In a research note dated April 28 and published this morning, the analyst mentions that the company has reported better-than-projected results for 2Q, with sales and net profits ahead of expectations. Siemens is still witnessing challenges at its Communications and IT Service segments, and is likely to invest generously in these segments in the short term, the analyst says.