Bloomberg - Jan 27, 2010Siemens AG (SIE)
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Ingo-Martin Schachel
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CommerzbankAirline passenger traffic fell the most ever last year and a recovery in demand in recent months has yet to translate into higher fares, according to the International Air Transport Association Strong Track Record'
Siemens AG added 22 percent to 6775 euros as Europe's largest engineering company was raised to "buy" from "add" at Commerzbank, which increased its share price forecast to 78 euros from 70 euros
"Management has provided positive earnings surprises five times in a row, so we would expect Siemens' valuation multiples to expand further, reflecting the strong track record that management has now built up for cost cutting and corporate streamlining," analyst Ingo Martin Schachel wrote in a report dated today
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Airline passenger traffic fell the most ever last year and a recovery in demand in recent months has yet to translate into higher fares, according to the International Air Transport Association Strong Track Record' <span class="company">Siemens</span> AG added 22 percent to 6775 euros as Europe's largest engineering company was raised to "buy" from "add" at Commerzbank, which increased its share price forecast to 78 euros from 70 euros<span class="sent"> "Management has provided positive earnings surprises five times in a row, so we would expect <span class="company">Siemens</span>' valuation multiples to expand further, reflecting the strong track record that management has now built up for cost cutting and corporate streamlining," analyst <span class="analyst">Ingo Martin Schachel</span> wrote in a report dated today</span>
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