Why Siemens Stock Crept Higher on Friday
German industrial conglomerate (OTC: SIEGY) was a somewhat under-the-radar winner on the stock exchange on Friday. The company's shares enjoyed a more than 1% bump in price, as investors continued to disseminate the latest earnings release and two analysts raised their price targets. Siemens' slight rise was robust enough to beat the flatlining S 500 (SNPINDEX: ^GSPC) that day.
Friday's analyst moves were a reaction to the earnings release, which was published Thursday morning. This revealed that Siemens' first quarter of its fiscal 2025 featured a 3% year-over-year increase in revenue to 18.4 billion euros ($19.2 billion).
The company reported that orders were up in all of its industrial segments save for Mobility; however, this dip resulted in an overall 7% slump to slightly more than 20 billion euros.
Source Fool.com
