RBC: Siemens AG's Upcoming FY27 Outlook 'Unlikely' to Drive Upward Revisions in Consensus

06:14 AM EST, 11/10/2026 (MT Newswires) -- RBC Capital Markets expects Siemens AG's (SIE.F) fiscal 2027 outlook update to be "unlikely" to drive revisions to market forecasts upward. "We see the 2027 divisional outlook as likely to encapsulate FY27 consensus expectations, but don't see upside at this point. Group guidance will be impacted by the potential shifts in [Siemens Healthineers (SHL.F)] accounting - but the most notable point around this is that on a pro forma post-spin basis the Siemens P/E will rise about 10% putting it at the upper end of the peer group range following recent relative share price resilience," according to a Tuesday note. Siemens AG is expected to provide its fiscal 2027 guidance alongside its fiscal 2026 results on Thursday. Together with the outlook, analysts at RBC also anticipate focus to be on the group's year-end delivery in digital industries. Meanwhile, the research firm made minor tweaks to its estimates to reflect currency movements and an anticipated improvement in the German technology company's smart infrastructure business into 2027. As such, analysts raised their revenue, EBITA and adjusted diluted EPS projections for 2027 and 2028. RBC rates the stock at sector perform, with a price target of 280 euros.