BUZZ-Kepler cuts Siemens Energy to 'hold' on priced-in mid-term view
** Kepler Cheuvreux cuts German turbine and generator maker Siemens Energy ENR1n.DE to "hold" from "buy", saying the 2024-2028 guidance is reflected in consensus which limits scope for positive revisions in the near term
** Ahead of Q1 results, due on Feb. 12, Kepler says the company is well placed to profit from a positive, prolonged upcycle for its Gas Services and Grid Technologies divisions
** But a build-up of working capital, consumption of provisions and warranty expenses may weigh on FCF in 2025, it adds
** Kepler says visibility of planned turnaround at wind turbine unit Siemens Gamesa remains low, as the business continues to undergo a significant repositioning
** Out of 24 analysts that cover Siemens Energy, 13 rate the stock "strong buy"/"buy", eight "hold" and three "strong sell"/"sell" - LSEG data
(Reporting by Amir Orusov)
((Amir.orusov@thomsonreuters.com))
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