Standpoint Research Upgrades Siemens (SI) to Buy; Recent Dip Makes Shares Attractive

Standpoint Research upgraded Siemens (NYSE: SI) from Hold to Buy with a price target of $115.00.

Standpoint analyst, Ronnie Moas, said, "We initiated coverage on Siemens on September 12, 2011 at $87. We closed the position out at $105 on October 14 with a 20% gain and + 1350 bps versus the S&P-500. Since our downgrade, Siemens has dropped by 11% and under-performed the S&P by more than 900 bps. In our Industrials sector report from this past weekend, Siemens ranked # 4 out of 230 names. We are going to reinstate Siemens at this time now trading at 9X estimates for 2012 and 8X estimates for 2013. The multiples for GE (NYSE: GE) are 12X and 11X, respectively. SI should grow revenues by 4% next year, while there is no revenue growth expected for GE."

For an analyst ratings summary and ratings history on Siemens click here. For more ratings news on Siemens click here.

Shares of Siemens closed at $94.54 yesterday.

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