12:35 AM EDT, 03/20/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our target price at US$103 based on forward EV/EBITDA of 11.6x. This is at 0.25 standard deviation (SD) below 3-year average EV/EBITDA to reflect potential negative newsflow from Siemens Energy (SE). Siemens' share price fell 5.8% on March 19; we gather that this is caused by a comment made by the company's CFO at a conference that the Digital Industries segment is experiencing low orders due to ongoing slowdown in China. We believe the selloff is likely to be overdone as the Digital Industries segment makes up only 18% of FY 24 (Sep.) orders (overall China contribution at 9%). We expect book-to-bill to stay above 1, driven by order growth in the Smart infrastructure (26% of FY 24 orders) and Mobility (25%) segments. We also expect lower interest rates from H2 2024 onwards to boost demand for electrification and automation. We maintain FY 24 EPS of EUR5.49 and FY 25 EPS of EUR5.87. We continue to like SIE as it benefits from solid worldwide demand for digital and sustainability transformation.