Siemens "overweight"

01.08.07 - J.P. Morgan Securities

LONDON, August 1 (newratings.com) - Analysts at JP Morgan maintain their "overweight" rating on Siemens AG (SIE-EUR). The target price is set to ?113.

In a research note published this morning, the analysts mention that the company has indicated that the DPC and Bayer acquisitions are integrating well, with results being achieved earlier than planned. Siemens has acquired higher valued assets at a time when there are concerns over its operational performance, the analysts say. The company is unlikely to reach EVA breakeven before 2016 in view of the market growth rates and assuming that Siemens realizes its targeted synergies, JP Morgan adds.