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Last Updated : May 17, 2019 12:23 PM IST | Source: Moneycontrol.com

Buy Siemens; target of Rs 1290: Motilal Oswal

Motilal Oswal is bullish on Siemens has recommended buy rating on the stock with a target price of Rs 1290 in its research report dated May 16, 2019.

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Motilal Oswal's research report on Siemens


The strong focus on products/services has helped Siemens (SIEM) to mitigate the slowdown in industrial capex, as it has been able to capitalize on opex-related spending. We expect the trend to continue, driving strong growth for its products business. Any revival in capex spending can further strengthen its revenue trajectory (not a base-case scenario for us and consensus).


Outlook


The current valuation provides comfort, given the scope of an improvement in the operating performance and the likely gradual recovery in capex spending. We upgrade SIEM to Buy with a target price of INR1,290 (35x Mar’21E EPS).


For all recommendations report, click here


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First Published on May 17, 2019 12:23 pm
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