Bernstein Restarts Siemens Healthineers Coverage at Outperform, Says Headwinds Already Priced In

03:37 AM EST, 12/17/2025 (MT Newswires) -- Bernstein resumed its coverage of Siemens Healthineers (SHL.F) at outperform, with a price target of 52.90 euros, noting the German healthcare company's "current depressed multiple" is a buying opportunity as recent headwinds are already reflected in its price. "Healthineers is a leader in attractive medtech end markets set to benefit from the growth in non-communicable diseases and new treatments, with Healthineers helping [deliver] the efficiency needed to address the resulting growth in healthcare demand. While 2026 is a transition year given continued headwinds from tariffs, FX, and softness in China, along with the Siemens' (SIE.F) share sale overhang, these risks are already in the price," according to a Tuesday note. Bernstein analysts forecast organic revenue growth of 5.4% for fiscal 2026, in line with market estimates. The research firm also projects an adjusted EBITA margin of 16.6%, against the expected 16.4%, which translates into a 2026 adjusted EPS estimate of $2.36, ahead of the $2.35 consensus figure.