Siemens shares: Analysts see further upside potential after rally

Siemens shares: Analysts see further upside potential after rally

According to a report by www.deraktionaer.de, the value of Siemens shares continues to rise and is approaching the all-time high of 167.00 euros. Deutsche Bank has raised its price target for Siemens and expects further potential for the share. Analyst Gael de-Bray predicts leading indicators such as industrial purchasing managers' indices will bottom in 2024, supporting sentiment and valuations in the capital goods sector. He also sees a positive development in the industrial sector, which will result in Siemens and Schneider Electric benefiting.

It is expected that the increasing demand for solutions in the areas of climate change, energy security and supply chains will lead to technological investments from which Siemens will greatly benefit. Deutsche Bank's increase in the price target from 188 to 190 euros shows its confidence in the company's potential.

It is expected that the share price will rise even further given Siemens' latest figures, which show positive business development despite a weakening economy. A short respite after the recent rally is likely, but in the long term prices are expected to continue rising.

These forecasts and the positive development at Siemens show that the company is currently experiencing a strong growth trend. The increase in the price target by Deutsche Bank and the positive outlook for the industrial sector suggest that Siemens shares continue to represent an attractive investment option.