Siemens "buy," target price reduced

01.10.08 - Dexia Securities

LONDON, October 1 (newratings.com) - Analyst Dieter Furniere of Dexia Securities reiterates his "buy" rating on Siemens AG (SIE). The target price has been reduced from ?100 to ?90.

In a research note published this morning, the analyst mentions that the company has announced higher-than-expected restructuring charges of ?3 billion. The economy is slowing down and the credit markets are tight, the analyst says.