(CercleFinance.com) – In a note released this morning, Berenberg analysts indicate that they have set their new price target for the stock at 30 euros, compared to 25 euros previously, while maintaining their purchase recommendation.
The German bank says it cannot help but notice the similarities between Siemens Energy and GE Vernova, the energy division of GE which recently went public, both in terms of size, businesses and profitability.
However, Berenberg points out, Vernova is trading today on the basis of a valuation 2.5 times higher than that of Siemens Energy, a fundamentally erroneous assessment from his point of view.
The financial institution estimates that the market thus attributes a negative value of around 11 billion euros to the wind subsidiary Siemens Gamesa, where on the contrary it attributes a potentially positive value to the tune of six billion euros.
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