Ahead of Siemens Energy's fourth-quarter earnings, analysts at Kepler Cheuvreux suggested in a research note Tuesday that despite having already warned on profits, the company "remains vulnerable to large negative cashflow swings in the next fiscal year."
Siemens Energy is set to report its fiscal fourth-quarter results on Nov. 15. Its shares are currently down more than 35% year-to-date. Morgan Stanley cut its price target for Siemens Energy from 20 euros per share to 18 euros per share, but retains an overweight long-term strategic position on the company's stock.
Deutsche Bank just cut its price target on nearly 30 global stocks ahead of earnings — and upgraded 1 ONYX Chief Commercial Officer Ashley Crowther said the lingering impacts of Covid-19 on manufacturing had just begun to heal — and then Russia's invasion of Ukraine and the subsequent surge in inflation hit."Survey participants are now citing delays on new projects due to longer lead times for supply of new turbines and significant price increases," Crowther said in the report.
"Major western OEMs have recently reported losses or profit warnings and announced major restructuring projects in order to address the challenges they are facing. Some are even re-thinking their approach to the aftermarket which was always seen as the most profitable part of the business," he added.Those surveyed by ONYX also expressed reliability concerns, with 69% expecting more reliability issues due to aging assets and 56% seeing problems associated with new turbine technology.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCLA - 🏆 319. / 59 Read more »