(News Bulletin 247) – Credit Suisse posts an ‘outperform’ opinion with a price target of 27 euros on Siemens Energy, encouraged by the continued momentum of the gas turbine market (especially large turbines) and the group’s ability to increase its market share.
‘As it mentioned in its Q2 2022-23 publication, the group has been ordered 31 units of turbines above 10 MW against a total of 67 units on the market, reaching a position of no. 1 during the quarter’, points out the broker.
Credit Suisse also recalls that Siemens Energy is now expecting like-for-like revenue growth of 10 to 12% in its Gas Services division, compared to a range that previously ranged from 0 to 4%.
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