BofA Ups Siemens Price Objective, Estimates Amid 'More Constructive' Smart Infrastructure Division Outlook

07:26 AM EDT, 09/08/2026 (MT Newswires) -- BofA Global Research raised its price objective and estimates for Siemens (SIE.F) amid positive growth expectations for the German technology group's Smart Infrastructure segment. The price objective was revised to 330 euros from 317 euros, with a buy rating on the stock, according to a Tuesday note focused on the pan-European capital goods sector. "We raise our medium-term estimates for Siemens, reflecting a more constructive outlook for Smart Infrastructure, where end-market demand remains supported by continued investment in data centres, power distribution and grid modernization. While our estimate changes are relatively modest at the group level, we expect Smart Infra will deliver a stronger and more durable growth profile than reflected in consensus," analysts wrote. "The key differentiator versus the market remains Smart Infrastructure, where our revenue forecasts are 2% above consensus in 2027 and 4% above in 2028, supported by order growth running ahead of expectations. We forecast Smart Infrastructure organic revenue growth of 14.2% in 2027 and 10.9% in 2028 (consensus at 10.3% and 8.5%)." At the group level, sales projections for Siemens were lifted by 0.5% and 0.8% for fiscal years 2027 and 2028, while the expected sales for 2026 remain unchanged.