Deutsche Bank Upgrades Siemens (SI) to Hold

Deutsche Bank upgraded Siemens (NYSE: SI) from Sell to Hold. Analyst Peter Reilly sees improvement in risk/reward.

"As we get closer to FY2014, we expect the market to look through FY2013, which is proving to be a rather messy transition year. The exits from Osram and NSN will make Siemens simpler to value but the future shape and investment needs of the Infrastructure & Cities sector remain unclear. We are raising our target price to €75 (from €70) and upgrading to Hold on valuation," said Reilly.

For an analyst ratings summary and ratings history on Siemens (NYSE: SI) click here. For more ratings news on Siemens click here.

Shares of Siemens closed at $103.75 yesterday.

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