Siemens Energy secures leading position in DAX, propelled forward by support from Deutsche Bank
Siemens Energy (WKN: ENER6Y): The rollercoaster ride of Siemens Energy's stock continues. After a brief respite, it hit a record high of 89.52 euros in early June, but then corrected to the 82 euro region. However, it's back on the rise. Today, Monday, it's leading the pack in Germany's benchmark index DAX, beating out Daimler Truck and Deutsche Börse.
As of now, Siemens Energy's stock is up by 3%, trading at 87.36 euros. It's not far from its record high set in early June. The stock is getting a boost today from a positive analyst comment by Deutsche Bank Research. Analyst Gael de-Bray has bumped up the target price for the stock from 95.00 euros to 100.00 euros and reaffirmed its buy rating following an investor event in the U.S. De-Bray praises CEO Christian Bruch's expectation of continuous growth in the coming years and a potential increase in the 2028 margin target at the next capital markets day in November. He also sees potential catalysts in a potential share buyback program and the possible divestment of the compression business.
When compared to the other top performers, Siemens Energy's stock has fared exceptionally well. In the past year, it's outperformed defense conglomerate Rheinmetall's gains by a considerable margin. Siemens Energy's gain stands at 263%, making it the third-best performer in the DAX, with Commerzbank leading the way with a 95% gain. Heidelberg Materials follows in fourth place with a gain of 81%.
After such a strong rally, a period of consolidation might be beneficial. Hence, DER AKTIONÄR is keeping its stop-loss order at 78.00 euros for now. The long-term outlook remains strongly positive.
In the broader picture, global factors like the energy transition, market demand for gas turbines, economic and political factors, company performance, market sentiment, and valuation metrics could have influenced Siemens Energy's stock price. To gain a more precise analysis of this timeframe, specific financial reports, market trends, and news from that period would be beneficial.
The positive analyst comment by Deutsche Bank Research has boosted Siemens Energy's stock, with the target price now at 100.00 euros. In the broader picture, financial factors like the energy transition, market demand for gas turbines, and company performance could have influenced Siemens Energy's stock price.
