Siemens "hold," target price raised

26.01.07 - ING Financial Markets

NEW YORK, January 26 (newratings.com) - Analysts at ING Financial Markets maintain their "hold" rating on Siemens AG (SIE-EUR). The target price has been raised from ?81 to ?92.

In a research note published this morning, the analysts mention that the company has posted healthy 1Q07 operational results, with an increase in the divisional profit margins in its eight out of ten divisions. The analysts view Siemens' decision to withhold acquisitions for the next one year, in order to integrate the company's past acquisitions and to focus on generating healthy cash flows, as positive.