Siemens initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of Siemens (SIEGY) with an Outperform rating and EUR 295 price target The “picks and shovels” exposure of multi-industrials gives investors leverage to strong underlying cycles and industrials typically outperform the market when growth is at a premium, as the firm sees happening again in 2026, the analyst tells investors. Tight supply chains and good pricing power means earnings momentum into FY26, the analyst argues as the firm launched coverage of nine stocks in U.S. and European power and automation end markets.