Siemens upgraded to "overweight"

26.01.07 - J.P. Morgan Chase & Co.

LONDON, January 26 (newratings.com) - Analysts at JP Morgan upgrade Siemens AG (SIE-EUR) from "neutral" to "overweight." The target price is set to ?84.

In a research note published yesterday, the analysts mention that the company has reported its 1Q results ahead of expectations. Siemens? underlying performance in the quarter was healthy, with orders and EBIT from operations before eliminations ahead of the estimates, the analysts say.