Infineon: Berenberg cuts target price
(CercleFinance.com) - Berenberg has cut its target price for German chipmaker Infineon from 24 euros to 21 euros, while maintaining its "buy" rating on the stock.
In a note to clients, the German broker cites a cyclical recovery that is likely to take longer than expected.
"On its third-quarter earnings call, Infineon said that the semiconductor market slowdown is persisting for now and it expects the first signs of recovery in 2020 instead of 2019," Berenberg says.
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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.
In a note to clients, the German broker cites a cyclical recovery that is likely to take longer than expected.
"On its third-quarter earnings call, Infineon said that the semiconductor market slowdown is persisting for now and it expects the first signs of recovery in 2020 instead of 2019," Berenberg says.
Copyright (c) 2019 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.