HSBC upgraded Siemens AG to Buy from Hold, raising price target from €240 to €300.
Siemens shares rose 1.1% to €254.60 after the upgrade, reflecting optimism on industrial automation demand.
HSBC analyst cites rising "physical AI" demand, normalized inventory, and strong Q1 data‑centre growth driving Digital Industries earnings upside.
Siemens plans to propose a 30% spin‑off of Healthineers at its Feb 2027 AGM, now seen as tax‑friendly under the German Transformation Act.