Soitec: Berenberg reduces target price

(CercleFinance.com) - Berenberg has renewed its buy rating on Soitec shares today, while trimming its target price for them from 280 euros to 270 euros.


In a report on European semiconductor manufacturers, the broker highlights an improvement in the sector's LT visibility, although a slowdown in business in the nearer term.

Regarding Soitec more specifically, the analyst believes that uncertainties surrounding the company's governance and the transition made in its general management prevent the share from correctly reflecting the growth in business, although the analyst says that this appears to be preserved in terms of volumes.

Berenberg points out that the three sector players which it interviewed (Besi, Soitec and X-FAB) report the their customers' desire to sign long-term supply agreements in order to gain visibility.


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