Siemens "hold," target price raised

27.04.07 - ING Financial Markets

LONDON, April 27 (newratings.com) - Analysts at ING Financial Markets maintain their "hold" rating on Siemens (SIE-EUR), while raising their estimates for the company. The target price has been raised from ?92 to ?100.

In a research note published this morning, the analysts mention that the company has reported robust 2Q06/07 results, with margin expansion in all divisions. Siemens is likely to continue to witness robust market conditions during the rest of the year, the analysts say. The operating margin estimates for FY07 and FY08 have been raised from 7.5% to 8.1% and from 8.4% to 9.2%, respectively.