Siemens "outperform," target price raised

25.06.07 - Credit Suisse

LONDON, June 25 (newratings.com) - Analyst J Mitchell of Credit Suisse maintains his "outperform" rating on Siemens (SIE-EUR), while raising his estimates for the company. The target price has been raised from ?100 to ?111.

In a research note published this morning, the analyst mentions that all of the company?s divisions, except Lighting, have indicated towards robust demand growth prospects. Over the remaining part of the year, Siemens? earnings momentum is expected to remain favourable and cash flow is likely to begin improving, the analyst says. The EPS estimates for 2008-2009 have been raised by 6%.