Siemens stock has taken a step back in the last trading days after its huge 40% rally at the end of the year. Following the new all-time high of around 171 euros at the beginning of the 2024 trading year, the stock has dropped by about 7% and is currently trading at around 159 euros (as of January 5th, 2024, 10:00 am).

Many investors are now wondering if the Siemens stock can once again attack and aim for new all-time highs after the current correction. Analysts are divided on this question, with the clear majority seeing higher price targets for the Siemens stock. Overall, the outlook for 2024 is positive.

Siemens back in the top 100 companies in the world With the year-end rally behind it, the Siemens stock has also managed to return to the club of the 100 most valuable companies in the world. Ernst & Young (EY) determined a market value of 148 billion dollars for Siemens, which means 88th place in the global ranking. In Germany, only SAP was worth more at the end of 2023.

However, there were first setbacks at the start of 2024: The Siemens stock could not hold the 170 euro mark and is now trading significantly below its recent all-time high. Meanwhile, Barclays continues to view the DAX stock pessimistically. They still see the price target for the stock at 124 euros and recently confirmed their „underweight“ rating.

Siemens stock: 2024 can also be successful According to Barclays, the profit growth has already been priced in after the recent rally. And for the current year 2024, they are less optimistic. However, outside of the Barclays analysis, there are only buy recommendations for the Siemens stock. Just yesterday, Bernstein Research raised the price target for the stock from 166 euros to 190 euros.

After the impressive rally of the Siemens stock between the end of October 2023 and the beginning of January 2024, a consolidation seems sensible and „healthy“. The pullbacks are the basis for possible further price increases in the coming quarters. It is quite possible that the growth will slow down in 2024 – nevertheless, the outlook for Siemens and the Siemens stock is good to very good.

Source: https://aktienscreener.com