Infineon: Oddo raises target price after results

(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on Infineon shares, having raised its target price for them from 42 euros to 46 euros in the wake of a 12% increase in forecasts for 2023, following better-than-expected quarterly results and the group maintaining its annual targets.


From the publication of the German semiconductor manufacturer, analysts in particular note profitability that is well above expectations, thanks to the mix, ASPs, but also to less severe cost increases than expected.

The 2023 guidance sets out a cautious scenario for H2, which leaves some possibility that the group will raise its forecasts, unless the dollar continues to fall, the analyst adds.


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