ICICI Direct has given Buy recommendation for Siemens with a target price of Rs. 3660 in its research report issued on Sep 14, 2022

ICICI Direct’s research report on Siemens

We attended the Siemens India Innovation Day 2022 on September 13, 2022 held in Mumbai. The basis of this event was to initiate communication around technological innovations that centred around problem solving solutions for industries in a dynamic environment. The discussions at the event centred around evolving technologies in segments like data centre, e-mobility, automotive, food & beverage, smart future grids, digital twin, autonomous system, cloud platform and AI.

Outlook

We remain long term positive and retain our BUY rating on the stock. We value Siemens at Rs 3660 on an SoTP basis.

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