NewsSiemens "buy," target price raised
29.01.07 - Dresdner Kleinwort Wasser.
LONDON, January 29 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "buy" rating on Siemens AG (SIE), while raising their estimates for the company. The 12-month target price has been raised from ?90 to ?100.
In a research note published on January 26, the analysts mention that the company has reported better-than-expected 1Q profits and revenues for all its divisions, excluding its Power segment. The results reflect Siemens? strategy of focusing its portfolio on the core power, automation and healthcare areas, the analysts say. The diluted EPS estimate for FY07 has been raised from ?4.9 to ?5.3. The EPS estimate for FY08 has been raised from ?6.1 to ?6.4 to reflect the FY08 EBIT margin estimates for the company?s A&D, Power and Medical divisions.