Infineon: Oddo raises target price
(CercleFinance.com) - Following a very good Q3 publication, Oddo BHF reiterates its "outperform" rating on Infineon shares, increasing its target price for them from 30 euros to 35 euros, while also raising its EPS estimates by 10% for 2022 and 7% for 2023.
The broker notes the very positive elements of the previous day's quarterly publication, for example, citing the strength of demand, a record order book and a limited impact from the rise in gas prices.
Analysts also still like Infineon's profile, which is exposed to the structural trends of electrification and digitalisation of the automotive and industrial markets, while noting that the stock is still lagging its sector.
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