SMAWF - Siemens Q1 - Why I Am Waiting [Downgrade]
2024-03-22 13:52:57 ET
Summary
- Siemens has delivered strong 1Q24 results, with improvements in all segments and a record-level order backlog.
- The company is accelerating its portfolio optimization, cutting its stake in Siemens Energy and increasing its stake in Siemens India.
- While Siemens is a solid company with a strong moat, the current valuation is not compelling for a +15% annualized upside.
Dear readers/followers,
My last article and work on Siemens ( OTCPK:SIEGY ) was a Buy rating from March 2023. This is a company that I have been following for some time in my work. I even maintain a small stake in the business. In this article, we'll digest the 1Q24 results and see what the upside is for Siemens at over €175/share. Siemens has delivered outperformance for some time. Things have changed since I purchased shares at a double-digit share price, and sold at close to €150/share.
However, with improvements in the results and a good upside, it's time to revisit Siemens as a company and investment and see if we can see a market-beating upside at this valuation....
Siemens Q1 - Why I Am Waiting [Downgrade]