FRANKFURT, June 26 Reuters Siemens Energy shares fell for a second consecutive session on Monday, hit by a raft of target price cuts and rating downgrades in the wake of deeperthanexpected problems at its wind turbine division that emerged last week.

It share price was down 3.3 at 1252 GMT, at the bottom of Germany39;s bluechip DAX index, taking the group39;s loss in market valuation to 7.4 billion euros 8.1 billion since it scrapped its profit outlook late on Thursday.

We are now waiting for the full results of the analysis before drawing any further conclusions, a spokesperson for the company said in response to a query from Reuters.

Citi cut the company to neutral from buy while Jefferies downgraded to hold from buy, following the group39;s withdrawal of its 2023 profit guidance and the more than 1 billion euros it says it will cost to fix the issues.

After the warning, while the stock is now over onethird cheaper, investor confidence in the turnaround has been severely impacted, not just because of difficulttoquantify risks around fixing past deliveries, but also because of the lack of visibility at Siemens Gamesa, Citi analysts wrote.

They said depending on whether reliability issues could be contained or not, a price per share of anywhere between 11 and 34 euros was possible, adding it was key what Siemens Energy would say during thirdquarter results on Aug. 7.

Its shares on Monday traded around 14 euros apiece, the lowest level in seven and a half months….