Siemens AG last = 94 EUR 1w: +1.4 (1.5%)
% vs. spot / Price1M6M12MLT(2Y)LT(3Y)
Target Price (consensus)4.8%14.4%58.5% (148.5)--
Upside (Bull Case)4.8%14.4%58.5% (148.5)--
Downside (Bear Case)-----

Siemens generates 21% of Sales from Power (gas and wind), where is observed pressure on price/margins. In 2018 I expect reduction in earnings, due to FX, Power Generation and investments, so Siemens now trades at a discount to most of its peers. But in 2019 Company may have less FX pressure, some savings in Power Generation and continued growth in Digital Factory.