Infineon: Stifel nudges up target price

(CercleFinance.com) - Stifel maintains its "buy" rating on Infineon shares, adding a euro to its target price from E47 to E48, after raising its EPS estimates for the group by 12% for 2023, followed by 7% for 2024, in reaction to the group's latest preliminary release.


"We conclude that IFX continues to execute on price increases which puts the company in a better position to compensate cyclical demand weakness outside auto & industrial," the broker said.

Stifel says that the German semiconductor manufacturer has been later than others to implement aggressive price increases, and "should have more juice left when compared to peers".


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