Deutsche Bank cuts Siemens price target, earnings estimates

Siemens shares fell half a percent in morning on Tuesday after global investment firm Deutsche Bank slashed price target to Rs 1,120 from Rs 1,130 earlier.

The research house also reduced its EPS estimates by 2/5 percent for FY19/FY20 as power and transmission & distribution segments growth should slow.

However, Deutsche has maintained buy rating on the energy-efficient and resource-saving technologies provider as the stock valuation looks attractive.

"At 30x March FY20 estimated PE, it is available at a 30 percent discount to long-term historical average. We expect high RoCE (return on capital employed) digital factories & building segments to lead growth," the research firm said.

At 10:38 hours IST, the stock was quoting at Rs 906.55, down Rs 4.35, or 0.48 percent on the BSE.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.