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As announced by the company DAX Siemens, the market value of the 35% stake in Siemens Energy with the closing price on June 30 of 13.99 euros is significantly lower than the book value. According to the announcement, this will result in an unscheduled devaluation (devaluation) of the investment, with a total non-monetary impact on after-tax earnings of approximately € 2.8 billion in the third quarter of fiscal 2021/22.
The publication of the third quarter data and their impact on the outlook for the current year is scheduled for 11 August.
Berenberg leaves Siemens on “buy” – target € 176
Private bank Berenberg left the Siemens rating at “buy” with a price target of 176 euros despite a billions of dollars devaluation on Siemens Energy shares. Under normal conditions, the market would overlook something like this, but it’s not that easy these days, analyst Philip Buller wrote in a study available on Friday. The situation reminded him of a similar move last year regarding the joint venture with Valeo. At that time, the share was written off as worthless, only to re-register a profit shortly thereafter.
After slightly more significant losses, Siemens’ stake in XETRA trading then fell only a marginal 0.08% to EUR 97.01 on Friday.
/ tih / jha /
Original study published: 07/01/2022 / 06:28 / GMT
Original study shared for the first time: date not specified in study / time not specified in study / time zone not specified in study
FRANKFURT (Dow Jones) / HAMBURG (dpa-AFX)
The leverage must be between 2 and 20
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Image sources: MICHELE TANTUSSI / AFP // Getty Images, Siemens Energy AG