Soitec: Oddo BHF still buying but slashes TP

(CercleFinance.com) - While maintaining its 'outperform' rating on Soitec shares, Oddo BHF has slashed its target price for them from E125 to E80, having cut its EPS by around 30% (average over 2024-26) and doubled its governance discount (15%) following a profit warning.


The warning was essentially due to a lack of visibility for end markets, prompting customers to be cautious, the analyst says, whose convictions on the quality of the group's technologies have been challenged.

While we understand the low visibility in the automotive sector, we are surprised by the cancellation of a major order in the IA division (FD-SOI) and above all by the change in rhetoric on RF-SOI, he adds.


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