Infineon: falling euro beneficial, Liberum says.
(CercleFinance.com) - Liberum maintains a "buy" rating on Infineon, with a target price of 21.
8 euros, saying that a falling euro is beneficial for the German chipmaker.
The brokerage firm points out that sentiment around the stock has been negatively impacted in recent months by the euro's appreciation.
The fact that the single currency now seems to be retreating is positive for the firm, it adds.
"The company's underlying business remains strong and estimates are likely to be have gone up after third-quarter results, but for the currency move," Liberum writes in a research note.
"A weakening euro, therefore, adds to the bullish investment thesis on the stock", the broker concludes.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
8 euros, saying that a falling euro is beneficial for the German chipmaker.
The brokerage firm points out that sentiment around the stock has been negatively impacted in recent months by the euro's appreciation.
The fact that the single currency now seems to be retreating is positive for the firm, it adds.
"The company's underlying business remains strong and estimates are likely to be have gone up after third-quarter results, but for the currency move," Liberum writes in a research note.
"A weakening euro, therefore, adds to the bullish investment thesis on the stock", the broker concludes.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.