Healthineers Draws Twin 49-Euro Targets as Imaging Rebound Lifts Analyst Conviction
Published on 11/10/2026 at 16:41 | Editorial boerse-global.de
Two brokerage houses moved on Siemens Healthineers within a day of each other, and both landed on the same 49-euro price target — yet they remain split on what investors should actually do with the stock. LBBW lifted its objective from 42 euros and reiterated its buy rating, while Goldman Sachs raised its own target from 43 euros but kept a neutral stance. Analyst Richard Felton recalibrated his estimates to the Q4 report and rolled the valuation base forward.
The more aggressive call came from Jefferies, which pushed its target from 50 to 55 euros and stayed at buy. The house pointed to a powerful final quarter of fiscal 2026, with the recovery in the Imaging segment doing much of the heavy lifting. A third research firm had already moved on Friday, taking its target from 47.50 to 51 euros while holding its buy recommendation.
The shares themselves have yet to catch up with that optimism. The stock slipped at times during Xetra trading yesterday and was quoted pre-market at €43.21 — comfortably below every target now on the table.
Should investors sell immediately? Or is it worth buying Siemens Healthineers?
A Strong Finish to the Year
The numbers behind the upgrades came on Thursday, when Siemens Healthineers reported comparable revenue growth of 5.9% for the closing quarter. Adjusted EBIT margin for the period reached 15.9%. Over the full fiscal year 2026, comparable revenue growth came in at 4.0% and the adjusted EBIT margin at 16.2%. Management proposed a dividend of €1.00 per share.
Guidance for fiscal 2027, published roughly a week earlier, points to adjusted unadjusted earnings per share of €2.20 to €2.40. That compares with €2.42 delivered in the year just ended. On the top line, the company expects comparable revenue growth of 4.0% to 5.0%.
Diagnostics Carve-out Comes With a Cost
Alongside the outlook, Healthineers set in motion the carve-out of its diagnostics business, which is to be established as a standalone company under the name Olyrian Diagnostics by mid-2028. According to Reuters, the separation is expected to bring additional savings of €400 million at Olyrian Diagnostics and at least €300 million at Siemens Healthineers. Finance chief Jochen Schmitz has acknowledged that the measures will affect jobs.
For now, the analyst community appears willing to look past the restructuring bill and the guidance that sits below last year's earnings mark. Whether the market follows the buy calls — or the neutral one — is the open question the coming sessions will answer.
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