Infineon: Oddo BHF lowers TP, but remains positive
(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Infineon, while lowering its target price from E48 to E46, in the wake of an adjustment to its 2024-26 EPS estimates for the group, ahead of its quarterly publication on 8 August.
While STMicro's massive warning last week raises the question of a further warning from Infineon, the broker believes that, at worst, it could guide on a stable Q4 (vs. +5% for consensus).
While the German semiconductor manufacturer's share price has lost 19% since the start of the year, including 7% in the last week, Oddo BHF believes that the risk of an adjustment seems largely integrated, at less than 8x forward-looking 12-month EBITDA.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
While STMicro's massive warning last week raises the question of a further warning from Infineon, the broker believes that, at worst, it could guide on a stable Q4 (vs. +5% for consensus).
While the German semiconductor manufacturer's share price has lost 19% since the start of the year, including 7% in the last week, Oddo BHF believes that the risk of an adjustment seems largely integrated, at less than 8x forward-looking 12-month EBITDA.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.