(News Bulletin 247) – Berenberg announced on Tuesday that it had lowered its price target on Siemens Energy from 34 to 25 euros following the ‘profit warning’ launched two weeks ago, while maintaining its advice to buy the stock.
In a note sent to its clients, the German bank estimates that it will take many years for investors’ perception of the energy group to change after this warning, which resulted in a stock market correction of around 40%. .
“Despite this, the stock’s current valuation is likely to attract interest from those looking at the stock from a value-oriented, risk-arbitrage perspective,” he concludes.
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