Siemens "buy," target price raised

05.02.07 - Deutsche Bank

LONDON, February 5 (newratings.com) - Analyst Peter Reilly of Deutsche Bank maintains his "buy" rating on Siemens (SIE). The target price has been raised from ?90 to ?100.

In a research note published this morning, the analyst mentions that the company has reported robust F1Q07 results, with EBIT significantly ahead of expectations. The proposed IPO of VDO is set to fund Siemens? acquisition of UGS for $3.5 billion, the analyst adds. The new divisional and group targets to be established on April 26 are likely to act as a catalyst for the company?s share price, according to Deutsche Bank.