Siemens "buy"

02.11.07 - Dexia Securities

LONDON, November 2 (newratings.com) - Analyst Jo De Mil of Dexia Securities maintains his "buy" rating on Siemens AG (SIE). The target price is set to ?120.

In a research note published this morning, the analyst mentions that the company intends to complete its acquisition of Dade Behring by November 6. Siemens and General Electric are expected to post above average growth in the hospital segment going forward, in view of their integrated diagnostics business model, the analyst says. The company?s Medical Division is expected to post FY07 revenues of ?9.9 billion and operating margins of 13.5%, Dexia Securities adds.