Siemens "overweight," estimates reduced

16.01.08 - J.P. Morgan Securities

LONDON, January 16 (newratings.com) - Analysts at JP Morgan maintain their "overweight" rating on Siemens AG (SIE), while reducing their estimates for the company. The target price is set to ?122.

In a research note published this morning, the analysts mention that the company is likely to post like-for-like order growth of 5% in 1Q, leading to a robust book-to-bill ratio. Siemens is likely to post group profit from operations before eliminations of ?1,336 million, the analysts add. The adjusted EPS estimates for 2008 and 2009 have been reduced from ?6.25 to ?6.13 and from ?8.12 to ?8.03, respectively, to reflect the anticipated ?1 billion at NSN.