NewsSiemens reinitiated with "outperform" - update
28.11.07 - Bear Stearns
LONDON, November 28 (newratings.com) - Analyst Timm Schulze-Melander of Bear Stearns reinitiates coverage of Siemens AG (SIE-EUR) with an "outperform" rating. The target price is set to ?135.
In a research note published this morning, the analyst mentions that the company has implemented an aggressive restructuring plan, which, if executed well, should enable it to achieve significantly improved profitability, portfolio and capital structure. The current restructuring programme appears to be progressing in the right direction, the analyst says. Even if the execution of the restructuring programme is disappointing, Siemens?s share price is likely to be supported by earnings from energy, automation for basic industries and improvements in healthcare, Bear Stearns adds.