Nomura Securities Starts Siemens (SI) at Neutral
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Price: $20.73 --0%
Rating Summary:
10 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
10 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Nomura Securities initiates coverage on Siemens (NYSE: SI) with a Neutral and EUR 85 price target.
Analyst Daniel Cunliffe comments, "We initiate on the stock with a Neutral rating (EUR 85 PT), although into the restructuring announcement due on 8 November, we are cautious on the name (already outperformed, risk of a d/g to consensus with us expecting FY13 guidance of net income from continuing operations to be c.EUR 5bn versus consensus on EUR 5.9bn, imminent end of buy-back removing technical support, possibility that restructuring focuses on gross margin and thus carries greater execution risk given the limited track record here). Looking through to FY14, we expect EUR 2bn of net restructuring benefits, net of price pressure, but this in our view, is already priced in, hence the Neutral rating."
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 $103.14 yesterday.
Analyst Daniel Cunliffe comments, "We initiate on the stock with a Neutral rating (EUR 85 PT), although into the restructuring announcement due on 8 November, we are cautious on the name (already outperformed, risk of a d/g to consensus with us expecting FY13 guidance of net income from continuing operations to be c.EUR 5bn versus consensus on EUR 5.9bn, imminent end of buy-back removing technical support, possibility that restructuring focuses on gross margin and thus carries greater execution risk given the limited track record here). Looking through to FY14, we expect EUR 2bn of net restructuring benefits, net of price pressure, but this in our view, is already priced in, hence the Neutral rating."
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 $103.14 yesterday.
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