Siemens Posts Strong Smart Infrastructure Results as Digital Industries Recovers
Dow Jones08-18 18:48
1048 GMT - Siemens' smart infrastructure unit posted a strong third-quarter result as data-center orders grew by tripe-digits, Berenberg analysts write. Despite this, investors were disappointed by the lack of upgrade in its digital industries unit as automation growth momentum was less pronounced than peers and there was some order softness in June, they say. The analysts retain their buy rating on the German industrial giant's stock and increase the target price to 330 euros from 320 euros. This is due to strength in electrification end-markets and the gradual recovery in automation markets, they say. Shares fall 1.5% to 278 euros.
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