(CercleFinance.com) – Berenberg reaffirms its ‘hold’ advice on Siemens Gamesa (SGRE) with a price target reduced to 12.5 euros, in the wake of a lowering of its 2022 and 2023 EPS estimates due to lower assumed volumes and margins.
The German broker considers the next Siemens Energy capital markets day, May 24, as a likely opportunity to address the issue of a possible takeover of the minority stake in Siemens Gamesa.
‘However, given the current negative momentum in the business, Siemens Energy may not be in a rush to intervene if it believes that SGRE’s share price may continue to fall’, it warns, however. .
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