FRANKFURT (dpa-AFX) - Shares in Siemens Energy continued their high flight on Tuesday after positive analyst comments. Around midday, the power engineering group managed a 3.3 percent gain in its share price to 23.69 euros, which meant both the Dax top spot and the highest level since the beginning of 2022. The shares have thus gained 9.4 percent within three trading days. Since the beginning of the year, the gain amounts to almost 35 percent, which puts Siemens Energy in second place in Germany's leading index.

Three banks - Morgan Stanley, Landesbank Baden-Württemberg (LBBW) and Oddo BHF - raised their price targets for Siemens Energy. The company had published its quarterly figures the previous day. Morgan Stanley analyst Ben Uglow justified his raised operating earnings estimate (Ebit) for 2024 and the new price target of 35.90 euros by saying that the company's margins had already bottomed out and that the market might be underestimating the existing potential in the power engineering business, which formerly operated under the name Gas & Power. Volker Stoll of LBBW also referred to higher expectations for long-term margins at the new price target of 26 euros.

Both experts also continue to recommend the share as a buy - despite the problem subsidiary Siemens Gamesa. However, this still has a long way to go before a turnaround, according to the experts at Oddo BHF. With their target increase to 23.10 euros, they remain just below the price level now reached and continue to recommend the share with "Neutral"./gl/tih/jha/