Infineon: Oddo BHF remains positive after quarterly results
(CercleFinance.com) - Oddo BHF has reiterated its 'outperform' rating and E46 target price for Infineon shares, noting that after its 20% decline in a month (driven by the sector and STMicro's poor results), the stock is trading at less than 8x 2025 EBITDA.
In this early phase of the recovery, although its pace is a question mark, it is legitimate to consider targeting the average cycle multiple of 10x observed over the last four years in the medium term, the analyst says.
In the wake of quarterly results that are slightly ahead of expectations, he also stresses that, beyond questions about the pace of the recovery, the group remains very confident in its structural growth drivers and positioning.
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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.
In this early phase of the recovery, although its pace is a question mark, it is legitimate to consider targeting the average cycle multiple of 10x observed over the last four years in the medium term, the analyst says.
In the wake of quarterly results that are slightly ahead of expectations, he also stresses that, beyond questions about the pace of the recovery, the group remains very confident in its structural growth drivers and positioning.
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.