FRANKFURT (dpa-AFX) - Two buy recommendations on valuation grounds gave Siemens Energy shares a further boost on Friday morning. The shares climbed by around 3 percent to 19.88 euros on the Tradegate trading platform compared to the Xetra close. In Xetra trading, this would be another high since the share price collapse in June 2023.

In their latest studies, experts from Deutsche Bank and Kepler Cheuvreux look at the significantly higher valuation of newcomer GE Vernova. The spin-off from the split-up of General Electric is around twice as expensive as Siemens Energy in terms of enterprise value to sales, calculated Gael de-Bray from Deutsche Bank. A certain premium is certainly justified due to the risk involved. Nevertheless, such a high discount is a good safety net. And he is optimistic about Siemens Energy in the long term anyway. His price target is 23 euros.

Kepler analyst William Mackie believes that the shares of the "twins" should be trading much closer together from a valuation perspective due to their similarity. He has set a target of 24 euros for Siemens Energy./ag/mis