Deutsche Bank Upgrades Siemens (SI) to Buy; Subtle Shift

Deutsche Bank upgraded Siemens (NYSE: SI) to Buy with a price target raised from EUR80 to EUR85.

Analyst, Peter Reilly, said, "Siemens has been disappointingly accident-prone in recent quarters, with sizeable losses on various contractual disputes. We think that this was partly due to an excessive focus on growth with inadequate focus on risks. We also think that this has been the main cause of the poor share price development and consequent depressed valuation. We see signs that the focus is shifting back towards profitability and are upgrading to Buy."

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 $84.34 yesterday.

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