(News Bulletin 247) – Stifel reaffirms its ‘buy’ recommendation on Infineon with an adjusted price target of 47 to 48 euros, in the wake of EPS estimates raised by 12% for 2023 and 7% for 2024 in reaction to the last preliminary publication of the group.
“We conclude that Infineon continues to implement price increases that put the group in a better position to compensate for the cyclical weakness in demand outside of automotive and industrial,” the broker said.
According to Stifel, the German semiconductor maker has been slower than others to make aggressive price increases, and ‘should have more juice left over it compared to its peers as a result’.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
