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Siemens Energy upgraded to Buy from Hold at HSBC
The Fly

Siemens Energy upgraded to Buy from Hold at HSBC

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."

Published first on TheFly

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