(CercleFinance.com) – Siemens fell sharply on Tuesday on the DAX of the Frankfurt Stock Exchange, while HSBC lowered its recommendation on the stock to ‘lighten’.
The title is currently losing 0.6%, while the DAX is perfectly unchanged.
HSBC, which maintains its price target of 150 euros, explains that it is concerned about the achievement of the industrial group’s objectives for its 2023/2024 financial year given the current weakness of demand in Germany and China.
More generally, the research office explains in a note dedicated to European industrial stocks that it is cautious about the sector after its recent ‘rally’ on the stock market, which from its point of view includes generalized growth in the medium term while only the American market seems in good shape today.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
