RBC Begins Siemens Healthineers at Outperform on 'Leading' Market Position, Earnings Growth Potential

01:09 AM EST, 12/18/2025 (MT Newswires) -- RBC Capital Markets initiated its coverage of Siemens Healthineers (SHL.F) at outperform, with a price target of 55 euros, noting the German healthcare company's "leading" market position and anticipated earnings growth. "Trading close to all-time low multiples since the IPO, we believe the valuation is not reflective of the company's medium-term mid-to-high [single digit] sales and [double digit] underlying earnings growth potential, nor its no. 1 positioning and track record of outperformance in core markets. We see potential for further re-rating in the event of a Diagnostics sale and benefits from greater liquidity post the Siemens (SIE.F) sell-down, with further clarity on timelines due in CY Q2 2026," according to a Wednesday note. The research firm forecasts the company's earnings growth for fiscal 2026 to be "broadly flat" on expected foreign exchange and tariff-related pressures. Between fiscal years 2026 and 2030, analysts project a 12% compound annual growth rate in group adjusted EBIT and a 13% CAGR in adjusted EPS, both ahead of the respective consensus estimates of 11% and 12%. RBC also believes that Siemens Healthineers could mitigate near-term margin headwinds related to tariffs, currency movements and China, through improved mix, productivity and pricing.