Berenberg Tweaks Siemens Energy Estimates After Record Fiscal Q3; Buy Retained

08:27 AM EDT, 08/06/2026 (MT Newswires) -- Berenberg raised its earnings forecasts for Siemens Energy (ENR.F) after the company booked a record level of orders at 17.9 billion euros in its fiscal third quarter, beating expectations by 6%, according to a note published Thursday. The German energy technology company's revenue and profit before special items also exceeded consensus estimates by 2% and 18%, respectively, bolstered by a robust performance at its Gas Services business. "Siemens Energy delivered a record Q3, driven by gas turbine orders reaching nearly EUR10bn, and a profit beat that drove FY26 margin expectations towards the upper end of guidance. Although management reiterated potential Q4 softness in turbine orders (due to project phasing), the FY27 outlook remains robust, underpinned by US demand and strong regional pipelines, and pricing remains attractive. Reassuringly, the company maintained its post-CMD (capital markets day) gas turbine capacity expansion target of over 30GW by 2030, which will deliver higher revenue while benefiting from short payback times," the research firm noted. As such, sales and EPS estimates for fiscal year 2026 were lifted by 0.3% and 2.5%, respectively, while the forecasts for both metrics also moved higher for fiscal years 2027 and 2028. "We view the FY26 results (September year-end) in November as the next key catalyst, where an expected update to the medium-term outlook could support a further re-rating in shares," Berenberg added. The stock's buy rating and 205 euro price target were maintained.