Infineon: Berenberg still a buyer, despite 'challenges'

(CercleFinance.com) - Berenberg maintains its "buy" rating on Infineon Technologies, with a target price of 27 euros, saying that the German chipmaker remains "well positioned" despite "cyclical challenges.
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According to the broker, the company's fundamental exposure to high-growth markets such as electric vehicles and advanced driver-assistance systems remains unchanged, as semi content growth has become the new driver here.

"We believe that for Infineon's share price to perform, several strong quarters are needed to demonstrate that its growth is not slowing," Berenberg wrote in a note.

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