Siemens Ltd shares today rose 3.4 per cent and the stock is heading towards its biggest single-day gain since March 12.
The company has reported an 83 per cent rise in net profit in the January-March quarter.
Jefferies has increased the price target to Rs 1,520 from Rs 1,250, and has revised the EPS estimates upwards by 8-10 per cent for FY15-17.
According to Jefferies, the margins have improved by 250 bps YoY despite marginally lower revenue.
Further operating leverage kicks in with revenue recovery it says.