Siemens "overweight," target price raised

27.04.07 - J.P. Morgan Securities

LONDON, April 27 (newratings.com) - Analysts at JP Morgan maintain their "overweight" rating on Siemens (SIE-EUR), while raising their estimates for the company. The target price has been raised from ?90 to ?100.

In a research note published this morning, the analysts mention that the company has posted robust 2Q results, with group profits from operations on an underlying basis ahead of the estimates. The midpoint of Siemens? latest margin targets implies an EPS of ?7.39 in view of the sales estimate for 2008, JP Morgan adds. The adjusted EPS estimates for 2007 and 2008 have been raised by 7% to reflect bright prospects for the PG and A&D segments.