Siemens has been given a "Buy" rating by UBS AG ahead of the upcoming fourth quarter reporting season.

Analyst Andre Kukhnin stated that there have been no significant changes in the nowcasting estimates for the European capital goods sector since the last update.

The analysis suggests that Volvo and Epiroc are expected to have the highest potential organic sales growth in the final quarter, while Siemens, along with Gea, may not meet expectations.

Siemens shares were down 0.2 percent in the latest trading session, priced at EUR 195.26, with a daily turnover of 359,984 shares.

Since the start of 2025, the stock has gained 3.6 percent.

The overall sales performance of Siemens and other companies in the sector is generally in line with consensus, although some companies tend to underperform.