(News Bulletin 247) – While maintaining its ‘neutral’ opinion on Siemens, Oddo BHF is adjusting its price target from 151 to 147 euros, in the wake of a reduction in its EPS of nearly 9% over 2023 and 5 % over 2024, due in particular to new prospects for Siemens Energy.
‘The dominant feeling at this stage remains that linked to the drop in demand and the uncertainties over 2024 (probably with a difficult first half)’, warns the design office the day after the German group’s quarterly results.
‘This air pocket should not, however, overshadow the group’s positioning in medium and long-term growth segments (electrification, digitalization, etc.) and the historical order book (17 months of turnover)’, he underlines nevertheless.
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