Infineon: Liberum reiterates 'strong buy' recommendation.
(CercleFinance.com) - On Tuesday broker Liberum has reiterated its "strong buy" recommendations on both Infineon Technologies and STMicroelectronics, saying that the current sell-off should be considered as a buy opportunity.
"Infineon's share price is down 11% from its high, while STM is down almost 15%. We believe this weakness represents a buying opportunity," Liberum says.
Pointing out that corrections of around 10% are not uncommon in the sector, the broker maintains a positive view on both companies and points out that valuations are not stretched.
Liberum also says it expects there to be upgrades in coming quarters, especially for STM. It has a current target prices of 28 euros on Infineon and 23 euros on STMicroelectronics.
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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.
"Infineon's share price is down 11% from its high, while STM is down almost 15%. We believe this weakness represents a buying opportunity," Liberum says.
Pointing out that corrections of around 10% are not uncommon in the sector, the broker maintains a positive view on both companies and points out that valuations are not stretched.
Liberum also says it expects there to be upgrades in coming quarters, especially for STM. It has a current target prices of 28 euros on Infineon and 23 euros on STMicroelectronics.
Copyright (c) 2017 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.