Infineon: Oddo BHF cuts TP

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Infineon shares, with a target price trimmed from E38 to E36, following the publication of better-than-expected Q4 2024 results, albeit with very cautious guidance for 2025.


According to the analyst, the idea that emerges from this publication is that the group has, this time, probably been sufficiently cautious, taking into account the hypothesis of a sharp inventory correction in H1 2025.

Based on analysts' forecasts, the share is trading at 9.9x 2025 EBITDA, slightly below its 10-year average of 11x, while the end of the inventory correction is in sight and structural growth prospects are not called into question, it says.


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