Infineon: Credit Suisse still buying but cuts TP
(CercleFinance.com) - Credit Suisse maintains its "outperform" rating on Infineon shares, while reducing its target price for them to E50.
1 (from E53.1), after updating its estimates following the German semiconductor manufacturer's quarterly results.
While it is keeping its revenue expectations broadly unchanged, the broker has cut its segment earnings estimates for fiscal 2023 and 2024 by 1%-6%, due to lower margin expectations.
"We continue to see Infineon as a significant beneficiary of many secular trends such as decarbonisation and vehicle electrification/automation," it nevertheless says.
Copyright (c) 2023 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.
1 (from E53.1), after updating its estimates following the German semiconductor manufacturer's quarterly results.
While it is keeping its revenue expectations broadly unchanged, the broker has cut its segment earnings estimates for fiscal 2023 and 2024 by 1%-6%, due to lower margin expectations.
"We continue to see Infineon as a significant beneficiary of many secular trends such as decarbonisation and vehicle electrification/automation," it nevertheless says.
Copyright (c) 2023 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.