Siemens AG last = 101 EUR 1w: +1.2 (1.2%)
% vs. spot / Price1M6M12MLT(2Y)LT(3Y)
Target Price (consensus)5.3%15.8%---
Upside (Bull Case)5.3%15.8%---
Downside (Bear Case)-----
[Neutral]

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.