Infineon: Stifel still buying after Qimonda settlement
(CercleFinance.com) - Stifel confirms its 'buy' recommendation on and target price of E38 for Infineon shares, following a settlement agreement with the receiver of Qimonda for a nominal amount of E800m (E753.
5m without previous agreements).
Recalling that provisions in Infineon's accounts for this case amounted to E212m at end-2023, the broker warns that the difference will be reflected in its 2023-24 income statement, expected on November 12.
The high amount of the agreement is a negative surprise for us, Stifel admits, which nevertheless considers that the additional cash outflow does not change the long-term investment case for the German chipmaker.
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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.
5m without previous agreements).
Recalling that provisions in Infineon's accounts for this case amounted to E212m at end-2023, the broker warns that the difference will be reflected in its 2023-24 income statement, expected on November 12.
The high amount of the agreement is a negative surprise for us, Stifel admits, which nevertheless considers that the additional cash outflow does not change the long-term investment case for the German chipmaker.
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.