Dialog Semiconductor: Credit Suisse downgrades stock
(CercleFinance.com) - Credit Suisse has downgraded its rating on the Dialog Semiconductor stock from "outperform" to "neutral", despite raising its corresponding target price from 58 euros to 67.
5 euros and maintaining its 2020-22 estimates for the electronics group.
The broker justifies its downgrade by the group's announcement of its acquisition by Renesas, in an all-cash offer at 67.5 euros per share, which aims to increase Renesas' exposure to analogue and the Internet of Things.
"Renesas management noted that likelihood of any potential concerns from regulatory and/or anti-trust bodies may be low," the broker points out, underlining the complementary nature of both groups' offers and Dialog's low exposure to the military and aeronautical sectors.
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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.
5 euros and maintaining its 2020-22 estimates for the electronics group.
The broker justifies its downgrade by the group's announcement of its acquisition by Renesas, in an all-cash offer at 67.5 euros per share, which aims to increase Renesas' exposure to analogue and the Internet of Things.
"Renesas management noted that likelihood of any potential concerns from regulatory and/or anti-trust bodies may be low," the broker points out, underlining the complementary nature of both groups' offers and Dialog's low exposure to the military and aeronautical sectors.
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.