Standpoint Research Starts Siemens (SI) at Accumulate; The GE of Germany Trading at a Discount
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Price: $22.06 -0.18%
Rating Summary:
10 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Standpoint Research initiates coverage on Siemens (NYSE: SI) with a Accumulate. PT $115.00.
Standpoint analyst, Ronnie Moas, said, "Siemens, market cap $77 bln, is the German equivalent of General Electric (NYSE: GE), market cap $157 bln. With the German market down 30% in seven weeks we feel it makes sense to add a recommendation from there for whoever is looking to increase portfolio beta as the markets decline and has a 12-24 month time horizon. Siemens has dropped from $147 to $87 since May 2 and is trading at 2001 prices. That being said, forced selling has dragged the shares down below $50 a few times in the last decade so it is dangerous to try and pick a bottom here – we would not jump in with both feet at this time but are attaching our second-highest rating. There is no shortage of issues and concerns, but those seem to be more than priced in at this time with Siemens trading at 8X estimates for next year."
For more ratings news on Siemens click here and for the rating history of Siemens click here.
Shares of Siemens closed at $88.38 yesterday.
Standpoint analyst, Ronnie Moas, said, "Siemens, market cap $77 bln, is the German equivalent of General Electric (NYSE: GE), market cap $157 bln. With the German market down 30% in seven weeks we feel it makes sense to add a recommendation from there for whoever is looking to increase portfolio beta as the markets decline and has a 12-24 month time horizon. Siemens has dropped from $147 to $87 since May 2 and is trading at 2001 prices. That being said, forced selling has dragged the shares down below $50 a few times in the last decade so it is dangerous to try and pick a bottom here – we would not jump in with both feet at this time but are attaching our second-highest rating. There is no shortage of issues and concerns, but those seem to be more than priced in at this time with Siemens trading at 8X estimates for next year."
For more ratings news on Siemens click here and for the rating history of Siemens click here.
Shares of Siemens closed at $88.38 yesterday.
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