Trump to visit Fed on Thursday amid Powell feud, renovation probe
Investing.com - Citi has reiterated its Buy rating on Siemens AG (ETR:SIE) (OTC:SIEGY) stock with a price target of EUR260.00.
The investment bank updated its forecasts for the German industrial conglomerate, primarily to account for currency fluctuations. Citi had previously adjusted its projections for Siemens (ETR:SIEGn)’ exposure to the China EDA (Electronic Design Automation) software market in an earlier research note.
Citi indicates it sees no major changes to underlying market trends for Siemens compared to the previous quarter. The firm expects Siemens to maintain its current guidance, which does not include the effects of the company’s Altair acquisition.
The research note identifies Siemens’ Capital Markets Day (CMD) in December as a more significant potential catalyst for the stock than the upcoming quarterly results.
Citi maintains its positive outlook on Siemens shares, keeping its Buy recommendation unchanged amid the updated currency-related forecast adjustments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.