Report
Delphine Brault

Siemens AG : Following the upward revision to guidance, we have lifted our target price to € 143. ‘Neutral’ recommendation maintained

>Upward revision to our figures - We have incorporated the new guidance which results in an upward revision of +5/+8% to our operating figures. The group is now targeting l-f-l sales growth of 11-12% in 2021 (vs 9-11%), net profit of € 6.1-6.4bn (vs € 5.7-6.2bn) and book-to-bill >1x. This includes the new guidance from SHL (75% owned) and all items related to Varian, an acquisition partly refinanced by Siemens AG. By division, for the digital industries (DI) activity ...
Underlying
Siemens AG

Siemens is a technology company. Co.'s Energy sector provides a range of products, solutions and services for generating and transmitting power. The Healthcare sector provides customers a range of medical solutions across the treatment chain. The Industry sector supplies products and solutions for industrial companies, primarily in the process and manufacturing industries. The Infrastructure & Cities sector provides a range of technologies that accelerates the capabilities of metropolitan centers and urban infrastructures. The Investments segment is comprised of Co.'s equity stakes in other companies. The Financial Services segment provides business-to-business financial solutions.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

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