Infineon: Oddo BHF cuts target price
(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on Infineon shares, although has lowered its target price for them by 10% to E45.
However, this still represents substantial upside potential of 41%, after reducing its forecasts for the German semiconductor group.
The Automotive segment is resisting really well, even though consumer demand may take longer than expected to recover, the analyst says, who maintains his expectations for FY 2023, although has reduced those for 2024 and 2025 by 10% and 3% respectively.
Oddo BHF nevertheless remains constructive about Infineon, which it says is investing significant amounts in new production capacity to continue to grow at 10% p.a. and generate margins of 25% on average through cycles.
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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.
However, this still represents substantial upside potential of 41%, after reducing its forecasts for the German semiconductor group.
The Automotive segment is resisting really well, even though consumer demand may take longer than expected to recover, the analyst says, who maintains his expectations for FY 2023, although has reduced those for 2024 and 2025 by 10% and 3% respectively.
Oddo BHF nevertheless remains constructive about Infineon, which it says is investing significant amounts in new production capacity to continue to grow at 10% p.a. and generate margins of 25% on average through cycles.
Copyright (c) 2023 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.