JPMorgan Rates Siemens ‘Overweight’, Sets Target Price at €215

Analysts at JPMorgan have reiterated their ‘Overweight’ rating on shares of Siemens, a German multinational conglomerate.

The analysts have also raised their target price for the stock to €215, implying a potential upside of over 10% from the current market price.

In a research note to clients, the analysts cited Siemens’ strong performance in recent quarters, driven by growth in its digital industries and mobility businesses.

They also noted the company’s progress in executing its Vision 2020+ strategy, which is focused on digitalization, automation, and electrification.

The analysts wrote: “We believe that Siemens is well-positioned to benefit from the ongoing digital transformation of the global economy.

The company’s strong track record of innovation and its broad portfolio of products and services make it a compelling investment opportunity.”

JPMorgan’s ‘Overweight’ rating on Siemens is in line with the consensus recommendation among analysts, according to data from Bloomberg.

The average target price for the stock is €213.50, implying a potential upside of over 9% from the current market price.

Siemens shares have outperformed the broader market in recent months, rising by over 20% since the beginning of the year.

The company is scheduled to report its third-quarter results on July 29th.

Analysts will be looking for further evidence of the company’s strong performance and progress in executing its Vision 2020+ strategy.