Siemens "overweight," target price raised

25.06.07 - J.P. Morgan Securities

LONDON, June 25 (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 ?100 to ?113.

In a research note published this morning, the analysts mention that Siemens' share price is likely to continue to be driven by the company's execution on governance, portfolio and capital structure. Most of the company?s divisions are focusing on the end markets, with bright prospects, and are expanding their market share via innovation, the analysts say. The EPS estimates for 2007 and 2008 have been raised from ?5.79 to ?5.81 and from ?7.08 to ?7.42, respectively.