Siemens "buy," target price raised

12.11.07 - Deutsche Bank

LONDON, November 12 (newratings.com) - Analyst Peter Reilly of Deutsche Bank reiterates his "buy" rating on Siemens AG (SIE). The target price has been raised from ?130 to ?140.

In a research note published this morning, the analyst mentions that the company has posted impressive 4Q results, with operating profits ahead of the consensus. Siemens? 4Q organic order growth of 19% augurs well for the company?s performance in FY08, the analyst says. Siemens? incoming CEO has announced unexpectedly announced plans for a ?10 billion share buyback, a target of lowering SG&A expenses by 10-20% and a rise in divisional margin targets, Deutsche Bank adds.