JPMorgan downgraded Siemens Energy to Neutral from Overweight with a price target of EUR 18, down from EUR 23. The magnitude of the offshore charge as well as the implied Q4 loss suggests the SGRE recovery will be more gradual than prior expectations, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>