Dialog Semiconductor: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF reinstates its "buy" rating on the Dialog Semiconductor share, having raised its target price from 48 to 52 euros, supported by an increase in the group's forecasts thanks to the recent global trend to "work and learn from home".
Dialog Semiconductor has said that it expects Q2 2020 sales of between 290 million dollars and 305 million dollars, up from a previous forecast range of 260-to-290 million dollars and the consensus of 268 million dollars.
The stock should react well to this announcement, which also reinforces analysts' positive opinion of Dialog, the broker said, which also considers that the share's valuation is still very attractive, trading at 7.8x prospective EBITDA.
Its expectations are proving to be true - the share is bubbling on Thursday - up about 8% at midday.
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