NewsSiemens "sell," estimates raised
30.01.08 - Landesbank Rheinland Pfalz
LONDON, January 30 (newratings.com) - Analyst Michael Busse of Landesbank Baden-Württemberg maintains his "sell" rating on Siemens AG (SIE), while raising his estimates for the company.
In a research note dated January 28 and published this morning, the analyst mentions that the company has posted mixed 1Q results, with new orders in-line with and sales short of the expectations. The shortfall in sales was on account of the weakness in the Power Generation segment, the analyst says. The company?s 1Q adjusted EBIT was lower than expected due to the weak performance of four of Siemens? segments, Landesbank Baden-Württemberg adds. The EPS estimate for 2008 has been raised from ?9.29 to ?10.77. The EPS estimate for 2009 has been from reduced from ?6.84 to ?6.62.