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Soitec: UBS confirms target price

( - UBS confirms its buy rating on the Soitec stock, with a target price of 211 euros after yesterday's Q1 2022-2023 figures.

The broker said that Q1 sales were lower due to lost production related to a power outage and strike action. The company expects to make up for this in the following quarters and has therefore reiterated its forecast. As such, analysts expect limited consensus changes at this stage.

Soitec reported 6% LFL y-o-y sales growth at 203 million euros in Q1 2022-2023. The group still expects LFL sales growth of around 20%, with an EBITDA margin of around 36% for FY 2022-2023.

Soitec shares are currently down over 5% at about 142 euros.

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