FRANKFURT (dpa-AFX) - After an impressive rally last year, Siemens Energy 2025 shares continue to struggle. About two weeks ago, they had marked a record high of over 55 euros, but since then the trend has been rather downhill. On Monday, they lost almost three percent of their value as the Dax's worst performer: after a sell recommendation from UBS, they fell to 50.38 euros. According to analyst Supriya Subramanian, "perfection" has recently been priced into the shares.

By 2024, the Siemens Energy share price had more than quadrupled. In a relatively short period of time, it went from being an investor concern to a record-high, investor-celebrated stock. However, UBS expert Subramanian sees risks for the wind power subsidiary Siemens Gamesa in her study, whose problems had pushed Siemens Energy shares to a record low of €6.40 in the fall of 2023. These risks are being overlooked by investors, the expert wrote. In addition, potential economic and political risks are not being priced in, she argued, with particular reference to business in the US.

Nicholas Green of Bernstein Research has long been negative on the stock with an "underperform" rating. However, he cited Siemens Energy as a "sell" recommendation in a study on the capital goods industry on Monday, with particularly strong conviction. In addition to the delayed achievement of the profit threshold in the wind power business, there is also the risk that the optimism priced into the gas and power division has become too great, according to the bank.