(New: upgrade by Bank of America.)

FRANKFURT (dpa-AFX) - Positive analysts' comments boosted Siemens Energy shares on Monday. With a price increase of four and a half percent to 14.34 euros, the shares led the Dax. The leading German index was up half a percent.

The wind turbine business of the energy technology group should have the worst behind it, wrote the experts at Bank of America (BofA). They raised their price target from 13 to 20 euros. They still see plenty of upside potential and upgraded the shares from "Neutral" to "Buy".

Analyst Virginia Sanz De Madrid from the Spanish bank Santander is now also more confident with an "outperform" rating than her previous "neutral" rating. She raised the target price for the shares from EUR 14 to EUR 19.

Vlad Sergievskii, an analyst at the British Barclays Bank, does not see quite as much scope for the share price in the medium term, but has also become more confident with a target price increase from 15 to 16 euros. He continues to rate the shares as "overweight". The business environment in the Gas & Power segment remains good and there has been no new bad news about the wind business, the expert wrote. The latter is even taking small steps in the right direction. In addition, the balance sheet risks have eased.

After a minor setback at the end of last week, Siemens Energy shares continued their recovery with Monday's gains. With a plus of almost 20 percent since the turn of the year, they are in third place in the DAX, just behind the shares of the defense company Rheinmetall and the software provider SAP. Above EUR 14.635, Siemens Energy has reached a high since August 2023.

For comparison: at the end of October, the share price had fallen to 6.402 euros. At that time, it became known that the company was dependent on billions of euros in counter-guarantees from the state to secure major orders./mis/la/men