(CercleFinance.com) – Siemens Energy lost nearly 3% to Frankfurt, penalized by an analysis by Oddo which confirmed its ‘neutral’ rating on the stock with a price target lowered from 23 to 18.7 euros.
The analysis office indicates that the results for the 2nd quarter came out in line with the preliminary results with a turnover of 6.6 billion euros, down 1.7% on a like-for-like basis, and an adjusted EBIT of -21 ME.
However, Siemens Energy announces that it is adjusting its 2022 objectives downwards, with organic revenue growth in the Gas & Power (GP) division at the bottom of the range of 1% to 5% (ODDO BHF at 2%) and a margin of adjusted EBITA from 4.5% to 6.5%.
At the consolidated level, Siemens Energy is now planning targets at the lower end of the range (-2% to +3% in organic sales growth and 2% to 4% adjusted EBITA margin).
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