Soitec: Berenberg raises target price
(CercleFinance.com) - Berenberg announced on Tuesday that it had raised its target price for Soitec shares from E110 to E130, while renewing its buy recommendation on the stock.
In a research note, the analyst points out that the second quarter for the specialist in materials for the semiconductor industry should see a slowdown in the decline in sales compared with the first quarter.
Once this low point has been reached, Berenberg predicts a return to growth in the second half of the year, before the end of customer destocking and a buoyant base effect generate solid growth in 2026.
In view of the underlying growth and operating leverage offered by the stock, the valuation appears attractive, Berenberg concludes.
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