We're posting this a week late but the gist of the story stands as written. Here's a month of price action:
Siemens Energy and GE Vernova
94.788B.
Only seven days after a drubbing caused by broad market concerns of an artificial-intelligence bubble, Europe’s biggest winner from the theme is back near record levels.
Boosted by a wave of analyst optimism and a wider equities rally, Siemens Energy AG shares are up by 13% this week and hovering near an all-time high, fully recouping last Friday’s 10% slump. That’s pushed the company’s market value to within touching distance of €100 billion ($116 billion).
“Global electricity demand is rising, especially in markets Siemens Energy is in,” said Nikolas Demeter, an analyst at B Metzler Seel Sohn & Co AG, who upgraded the shares to buy on Monday. He added that the stock remains appealing due to an attractive valuation and the firm’s strong order backlog.
Read more: Siemens Energy Plans €6 Billion Buyback After Share Rally
The German company, spun off from industrial giant Siemens AG in 2020, was Europe’s best-performing
stock in 2024, surging 320% on booming demand for data centers, a vital part of AI infrastructure. It’s climbed another 127% so far this year, and the upward momentum is expected to continue.
More than a fifth of the analysts tracked by Bloomberg have raised their price targets on the renewable energy company since it announced plans last week to buy back up to €6 billion of its own shares. The stock tumbled the following day as short-term investors took profits, amid broader market concerns as to whether heavy AI spending is delivering returns.
Brokers have stayed upbeat. Berenberg analysts led by Richard Dawson were among those who raised their price targets, saying that while the broader data-center theme might cause share price volatility, earnings growth forecasts and the shareholder return framework means they “remain positive.”
Earlier in November, Siemens Energy substantially lifted its mid-term financial targets on strong demand for gas turbines and data-center equipment as well as restructuring progress at its troubled Gamesa wind turbine unit....
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Siemens Energy develops conventional islands for small modular reactors.
When Rolls-Royce SMR began developing its small modular reactor (SMR)—using a unique factory-built approach to proven pressurized water reactor (PWR) nuclear technology—Siemens Energy successfully conducted Rolls-Royce’s partnering assessment process for one of the plant’s most essential components: the steam turbine-generator set. Under an agreement, As a result, Siemens Energy will supply its SST-8000 steam turbine technology, engineered for high efficiency and tailored to the SMR’s modular design. This partnership combines Rolls-Royce SMR’s nuclear reactor technology with Siemens Energy’s conventional island expertise, creating a repeatable, standardized power conversion system ready for global deployment. It’s no surprise....
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And a couple of our November posts: