HSBC analyst Sean McLoughlin upgraded Siemens Energy to Buy from Hold with a price target of EUR 24, up from EUR 19. The EUR 1.3B capital increase concludes cash tender offer for Siemens Gamesa minorities, which remove a key overhang on the stock, the analyst tells investors in a research note. The firm says that while the Siemens Gamesa earnings drag will persist, it is now with "full autonomy for turnaround."
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Published first on TheFly
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