Siemens AG : Target price raised from € 130 to € 138 but Neutral recommendation maintained
>Limited upward adjustment to our figures - We have factored in the new guidance which has resulted in a modest upward revision in sales and operating margins, whilst at the same time adding a higher capital gain for Flender (€ 0.9bn instead of the € 0.5bn anticipated): the group is now targeting comparable sales growth of 9-11% for 2021, net profit of € 5.7-6.2bn and a book-to-bill >1x. This does not yet include the charges linked to Varian (around € 300-500m), which...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.
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.
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