ams: BarCap remains 'overweight,' but cuts target

(CercleFinance.com) - Barclays Capital (BarCap) has reinstated its recommendation "overweight" weighting on ams, although has cut its target price for the share from 140 Swiss francs to 115 Swiss francs, in the wake of a reduction in its short-term earnings estimates.


The broker notes that the semiconductor manufacturer's share has fallen by 19% since the beginning of 2018, because of a weak first half for its flagship client, Apple, the deferral of ams' target margin until 2020 and concerns over visibility in terms of revenues.

However, BarCap says “We continue to have conviction in our Overweight on ams, supported by growth in 3D sensing.”



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