Siemens "buy"

19.10.07 - Dresdner Kleinwort Wasser.

LONDON, October 19 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "buy" rating on Siemens AG (SIE-EUR). The target price is set to ?125.

In a research note published this morning, the analysts mention that the company?s share price declined on Thursday, following the disappointing results announced by GE and Philips. There appear to be no short-term catalysts to support Siemens? share price, the analysts say. Robust results from the company?s network joint venture with Nokia also failed to improve Siemens? share price, Dresdner Kleinwort says. The analysts express their optimism, however, regarding the company?s restructuring programme.