Infineon: Credit Suisse raises TP, but still a seller
(CercleFinance.com) - After strong quarterly results, Credit Suisse is raising its sales forecasts by 2%, while it has increased its EBIT guidance by 10%-15% and EPS estimates by 14%-20% over the next 3 years (2020-2022).
It says, "We now forecast EPS of E0.59/E0.96/E1.20 for FY20/21/22".
Credit Suisse has raised its target price to 19.2 euros (vs. 17.0 euros), although has confirmed its underperform rating on the stock. "Valuation looks expensive at FY22E EV/EBIT of 17x. Given high debt," the analyst says.
"IFX is well placed to benefit from secular trends in car electrification, industrial automation and Internet of Things connectivity," the broker adds.
"We now forecast EPS of EPS of E0.59 / E0.96 / E1.20 for the financial years 2020/2021/2022.
Copyright (c) 2020 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.
It says, "We now forecast EPS of E0.59/E0.96/E1.20 for FY20/21/22".
Credit Suisse has raised its target price to 19.2 euros (vs. 17.0 euros), although has confirmed its underperform rating on the stock. "Valuation looks expensive at FY22E EV/EBIT of 17x. Given high debt," the analyst says.
"IFX is well placed to benefit from secular trends in car electrification, industrial automation and Internet of Things connectivity," the broker adds.
"We now forecast EPS of EPS of E0.59 / E0.96 / E1.20 for the financial years 2020/2021/2022.
Copyright (c) 2020 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.