Siemens: share price rises, BofA sees an inflexion

(CercleFinance.com) - Siemens shares were among the DAX's biggest risers on Wednesday's Frankfurt Stock Exchange, with analysts at Bank of America saying they saw an inflection point for the stock.


At 2:00 pm, the German industrial group's shares gained 2.8%, while the flagship index rose by 1.2% at the same time.

BofA announced in the morning that it had raised its recommendation on the stock from 'neutral' to 'buy', with a price target raised from 245 to 265 euros.

In its note, the research firm points out that organic growth and margins in the group's automation and industrial digitalization division ('Digital Industries') are currently experiencing a favorable inflection.

BofA also believes that shareholders could benefit from a change in the conglomerate's asset portfolio, with possible disposals of stakes in Siemens Heatlhineers and Siemens Energy.

Finally, analysts point out that the stock is trading in line with the capital goods sector, i.e. on the basis of an Enterprise Value/Ebitda ratio of around 12x, while the group is posting higher growth and margins, and the uncertainty surrounding the results of the German elections has now been resolved.

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