ams: Oddo confirms rating and target price
(CercleFinance.com) - ams has launched a new takeover bid on OSRAM at 41 euros per share, with the acceptance threshold reduced to 55% from 62.
Following this announcement, Oddo confirms its neutral rating on the share, along with a target price of 54 Swiss francs.
As the largest shareholder of OSRAM, with a direct stake of 19.99%, ams says that it is confident that it will succeed and hopes to finalised the transaction in H1 20, Oddo says.
Oddo anticipates a quarterly sales growth of 49.4% (+29.4% YoY) to 620.3 million dollars, driven by the rise of its 3D sensing solutions at Apple and Android smartphone manufacturers, in the middle of the guidance range (600-640 million euros).
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