FRANKFURT (dpa-AFX) - Siemens Energy shares reached another record high of 99.10 euros on Tuesday morning. However, the second-best DAX stock of the current year then ran out of steam and investors took some profits.
After the first hour of trading, Siemens Energy was down around 2 percent at around 96 euros. In a recent outlook for the quarterly report at the beginning of August, analyst Akash Gupta from JPMorgan was optimistic about the energy technology group. Looking at the ratio of new orders to booked sales (book-to-bill), the third fiscal quarter is likely to have been another good one, according to Gupta.
However, the price rally has now overtaken most experts' price targets, including Gupta's. Although he raised it significantly, he currently sees no further potential at EUR 78 and therefore remains "neutral." Gael de-Bray of Deutsche Bank raised his target twice in June, most recently to 100 euros. Goldman Sachs is also in line with this. However, HSBC raised its target to 108 euros this morning.
Siemens Energy had a strong run in June and in the second quarter. With gains of 15 percent and 82 percent, respectively, they clearly outperformed the DAX. Imagination in the field of artificial intelligence (AI), whose computing power places enormous demands on energy, continues to provide a boost. /ag/edh/mis
