Mumbai-based brokerage firm Haitong has increased its price target on engineering company Siemens to ₹4,800, up from ₹4,300. The firm is optimistic about Siemens’ long-term prospects in light of the current upswing in the capital expenditure (capex) cycle. This new target price suggests a potential gain of nearly 20% compared to Tuesday’s closing price of ₹3,991. Haitong has also reaffirmed its ‘outperform’ rating on Siemens’ stock.