Soitec: share up - boosted by broker comments
(CercleFinance.com) - Soitec's shares are up on Thursday in Paris, after Credit Suisse published initiated coverage of the stock with an "outperform" rating and a target price of 304 euros.
At 2.15pm, the stock was up over 0.5%, a mirror image of the dull Parisian stockmarket (down by around 0.5%).
In its study, the broker believes that the French semiconductor specialist is benefiting from favourable underlying trends, such as 5G, improved computing power and the electrification of vehicles.
"Increasing appreciation of Soitec's role in the industry could eventually make it a core holding in the sector," analysts said.
Credit Suisse adds that the growing adoption of the group's technologies could provide a positive surprise and materialise the upside potential relative to its target price.
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