Bullish brokerage commentary drives Siemens to hit 52-week high; 14% rally still likely

Even after hitting 52-week high today, analysts believe Siemens’ stock can see further gains of around 14 percent.

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Shares of Siemens rose 4 percent on May 12 with analysts being bullish on the company’s stock after Q4 results. Analysts believe the stock can see further gains of around 14 percent.

At 13:37 pm, the stock was quoting at Rs 3,907.35, up Rs 110.50, or 2.91 percent. The stock has touched a 52-week high at Rs 3,940 today.

Consolidated revenue rose 28 percent to Rs 4,857.8 crore in the quarter ended March while EBITDA was up 32 percent at Rs 621.2 crore. Operating margin improved slightly to 12.79 percent from 12.35 percent. Meanwhile, net profit jumped 39 percent to Rs 471.8 crore.

UBS has a ‘buy’ call on the heavy electrical company’s stock with a target price of Rs 4,500. The brokerage firm noted that the management commentary indicates substantial momentum in railway tendering.

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Besides, Macquarie has hiked its target price on the stock to Rs 4,100 with an ‘outperform’ call. It pointed out that strong base orders and margin performance are key highlights and also said that large railway orders are a key near-term catalyst.

The global brokerage firm has raised its profit estimates by 4 percent, 5 percent, and 6 percent for FY23, FY24, and FY25, respectively.

Siemens is one of the top picks for Nuvama Institutional Equities on the back of extensive product portfolio with strong capability across transmission and railways. While retaining its ‘buy’ recommendation on the capital goods company’s stock, the brokerage firm has raised its target price to Rs 4,400 from Rs 3,800.

Nuvama Institutional Equities believes Siemens is the best play for this golden capital expenditure pipeline across power transmission, and railways’ mega opportunity with focus on locos, trainsets.

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