ICICI Direct has given Buy recommendation for Siemens with a target price of Rs. 2900 in its research report issued on May 14, 2022

ICICI Direct’s research report on Siemens

Siemens Ltd (Siemens) is a leader in technology solutions for smart, intelligent, building technologies, mobility, digital industries and power T&D. It operates mainly in five key segments including energy/gas & power (34%), smart infrastructure (33%), digital industries (22%), mobility (7%) • Well placed to gain from the overall energy market transformation from electrification to automation and digitization.

Outlook

We remain long term positive and retain our BUY rating on the stock. We value Siemens at Rs 2900 on an SoTP basis.

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