In a note issued this morning, Berenberg confirms its 'buy' recommendation on Siemens, with a price target raised from 170 to 180 euros, following the conglomerate's better-than-expected quarterly results and better-than-expected forecasts for 2024.

Siemens continues to deliver on its promises and embodies the assurance of sustainable growth at a time when the stock is trading at unprecedented discounts to its peers", Berenberg points out.

Copyright (c) 2023 All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.