Infineon: shares up as broker triples target price
(CercleFinance.com) - Infineon shares rose by up to 3% on Thursday morning, after Berenberg analysts almost tripled their target price for the German chipmaker's share, citing strong demand from the auto industry.
Around noon, Infineon shares were up 1%, having now increased by 13% this year, outperforming the DAX's more timid 1% rise.
Berenberg raised its target price for the stock to 45 euros from 17 euros on Thursday and kept its "buy" rating, saying that its expect the current automotive chip shortage to last until the end of the year.
In the report Berenberg also raised its target price for STMicroelectronics shares to 39 euros from 10 euros, now adopting a "hold" rating on the French chipmaker's shares, versus "sell" previously.
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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.
Around noon, Infineon shares were up 1%, having now increased by 13% this year, outperforming the DAX's more timid 1% rise.
Berenberg raised its target price for the stock to 45 euros from 17 euros on Thursday and kept its "buy" rating, saying that its expect the current automotive chip shortage to last until the end of the year.
In the report Berenberg also raised its target price for STMicroelectronics shares to 39 euros from 10 euros, now adopting a "hold" rating on the French chipmaker's shares, versus "sell" previously.
Copyright (c) 2021 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.