Siemens Puts 61 Battery Trains on Track for 2029 as Jefferies Trims Rating and Buyback Rolls On
Published on 10/27/2026 at 15:51 | Editorial boerse-global.de
Siemens Mobility unveiled the design for 61 battery-electric Mireo Plus B trains on Wednesday, alongside regional transport body Nahverkehr Westfalen-Lippe and Rock Rail. The three-car sets are destined for the Nord-Westfalen network, where they will gradually push out diesel rolling stock starting in December 2029. Rock Rail is financing and supplying the units; Siemens Mobility handles manufacturing.
The design presentation lands in the middle of an unusually crowded stretch for the Munich-based group, which has been stacking up rail orders, expanding its artificial intelligence work with NVIDIA, buying back its own shares and absorbing a broker downgrade — all before it reports fourth-quarter and preliminary fiscal 2026 figures on November 12.
Jefferies Steps Back, Lifts Its Target
Jefferies cut Siemens to Hold from Buy, lifting its price target to EUR 300 from EUR 277 at the same time. The broker pointed to the strong order intake in fiscal 2026, which it said sharpens visibility into fiscal 2027, but argued that the positive growth prospects are already largely baked into market expectations. Among the risks it flagged were order momentum at Digital Industries, subdued industrial activity in Europe and exposure to China.
A EUR 2 Billion Rail Package in Lower Saxony
Siemens Mobility's other battery-train win came on October 15, when the Landesnahverkehrsgesellschaft Niedersachsen and the Regionalverband Großraum Braunschweig placed an order worth more than EUR 2 billion. The package covers 113 three-car Mireo Plus B trains together with maintenance and depots.
Should investors sell immediately? Or is it worth buying Siemens?
Buyback Passes Five Million Shares
Separately, Siemens reported the purchase of 359,920 of its own shares, acquired between October 19 and October 25 inclusive. Since the programme began on July 1, the company has bought back 5,218,107 shares through October 25, according to a capital-market disclosure.
AI Push With NVIDIA Widens
On Thursday, Siemens and NVIDIA broadened their collaboration on industrial AI, presenting joint applications and technical approaches spanning chip design, AI factories, product development and manufacturing. According to Siemens, AI agents can help chip designers explore 50 times more design variants. Siemens and Delta also say they can cut the time needed to build the power infrastructure for AI factories by up to 50%.
The pair had already showcased new AI solutions from Siemens' Erlangen electronics plant on October 19. Siemens says a virtual production ramp-up can reduce engineering effort by up to 85%, while agent-based production planning can deliver cost savings of up to 20%.
Siemens at a turning point? This analysis reveals what investors need to know now.
Siemens will publish its fourth-quarter results and preliminary figures for fiscal 2026 on November 12.
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