Infineon: Liberum still a buyer after results
(CercleFinance.com) - Liberum reiterates its "buy" rating on the Infineon share, along with its target price of 35 euros (32% upside potential), believing that the group's targets for FY 2020-21 are likely to prove "conservative", even though the broker is "acknowledging global economic uncertainties".
"We expect the semiconductor cycle to gain momentum into 2021 on continuing demand strength and presently low inventory levels," Liberum says, which expects upgrades to earnings estimates for the group.
" Infineon is a key beneficiary of very strong EV demand in China and Europe, and the likelihood of pro-EV policies in the US post Biden's win," it added.
The market doesn't seem to agree - at least not today - the Infineon share is down almost 4% an hour into trading in Frankfurt.
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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.
"We expect the semiconductor cycle to gain momentum into 2021 on continuing demand strength and presently low inventory levels," Liberum says, which expects upgrades to earnings estimates for the group.
" Infineon is a key beneficiary of very strong EV demand in China and Europe, and the likelihood of pro-EV policies in the US post Biden's win," it added.
The market doesn't seem to agree - at least not today - the Infineon share is down almost 4% an hour into trading in Frankfurt.
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.