Dialog Semiconductor: Credit Suisse maintains 'Outperform' r
(CercleFinance.com) - Crédit Suisse reaffirms its "outperform" rating on the Dialog Semiconductor share, having adjusted its target price from 51 euros to 49 euros, in the wake of reducing its operating profit forecasts by 3% for 2021 and 2% for 2022.
The broker raises its sales and operating profit estimates for 2020 by 1%, due to strong plans for the iPhone in the second half of the year. However, it leaves its sales forecasts for 2021 and 2022 unchanged, and takes into account the recent strength of the euro against the dollar.
"DLG remains on track for growth resumption from 2H21," Crédit Suisse says, which expects sales of 1.44 billion dollars, with EPS of 3.70 dollars in 2022, considering that the share has an "attractive" valuation.
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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 broker raises its sales and operating profit estimates for 2020 by 1%, due to strong plans for the iPhone in the second half of the year. However, it leaves its sales forecasts for 2021 and 2022 unchanged, and takes into account the recent strength of the euro against the dollar.
"DLG remains on track for growth resumption from 2H21," Crédit Suisse says, which expects sales of 1.44 billion dollars, with EPS of 3.70 dollars in 2022, considering that the share has an "attractive" valuation.
Copyright (c) 2020 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.