FRANKFURT (dpa-AFX) - U.S. bank Morgan Stanley's optimism in Siemens Energy 's potential pushed shares in the electrical and power engineering manufacturer to a 12-month high on Monday. Analyst Ben Uglow resumed his rating on the shares at "Overweight" with a price target of 33.20 euros.

At the top of the Dax, the shares climbed at times in early trading to 21.60 euros, their highest level since the beginning of April 2022. Most recently, they came back a bit, but were still ahead by around 5 percent at 21.26 euros. With a gain of around 21 percent since the beginning of the year, Siemens Energy is one of the best-performing shares in the 40-stock German stock market barometer.

The leading index itself, however, hardly moved on Monday. Its year-to-date gain amounts to just over twelve percent.

Following the billion-dollar capital increase completed in mid-March to fully acquire wind turbine subsidiary Siemens Gamesa, Uglow says investors should now "take a step back and reassess the investment potential." He sees clear signs of an energy boom cycle in the company's end markets, whose shares are currently trading at multi-year lows. The Morgan Stanley expert expects robust order and margin momentum, with the group potentially "in the right place at the right time."

Bernstein analyst Nicholas Green, on the other hand, remains cautious in a report also published this Monday. To be sure, Siemens Energy could be the "power pureplay" of the future, "as the company is uniquely focused on the energy transition," he writes. But greater transparency in looking at the company's individual divisions is needed for investors to develop confidence, he said.

"Siemens Energy was dumped by Siemens as a shrinking company after no willing buyer was found," he recalled. "Then the company also had to come to terms with the problematic Gamesa," which all in all had not been an easy start. Green continues to see deficits, above all, in the margins of divisions and regional sales of the group. His investment rating remains "Underweight" with a target of only 15 euros./ck/ag/stk