Siemens "buy," target price raised

03.07.07 - Deutsche Bank

LONDON, July 3 (newratings.com) - Analyst Peter Reilly of Deutsche Bank maintains his "buy" rating on Siemens AG (SIE). The target price has been raised from ?110 to ?120.

In a research note published this morning, the analyst mentions that several of Siemens? markets are growing a double-digit rate, and the company seems to be expanding its market share. Siemens has reiterated that it would announce a capital structure target when it reports its FY07 results in November, and there is a likelihood of surplus capital being returned to the shareholders going ahead, the analyst says.