Siemens AG posted its second quarter earnings that fell short of analysts' expectations, even as revenue beat estimates.
The tech company’s earnings came in at €1.27 a share, below the €2.03 expected by analysts surveyed by Investing.com. Revenue of €17.04B surpassed analysts’ expectations of €16.87B.
JPMorgan Chase & Co. lowered its price target on Siemens shares from €190.00 ($200.00) to €178.00 ($187.37). The bank has an overweight rating on the company’s stock.