Sell Siemens Ltd., target Rs 1130.0 : Kotak Securities Limited

Kotak Securities Limited has Sell call on Siemens Ltd. with a target price of Rs 1130.0. The current market price of Siemens Ltd. is 1312.0. Time period given by analyst is year, when Siemens Ltd. price can reach defined target. the company reported encouraging growth in order inflows driven by infrastructure projects. PAT underperformed estimates due to unfavourable revenue mix and currency movement. At current valuations of 44.3x FY18E earnings, the stock is expensive.