(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on Soitec, despite a price target lowered ‘insignificantly’ from 175 to 170 euros, the analyst having revised its forecasts downwards in the short term after a result warning.
If this larger than expected profit warning in the short term forces the design office to reduce its EPS forecast for the 2024 financial year by 17%, the negative impact on its EPS is limited to 3% in 2025 and becomes nil in 2026.
“The problem of inventory reduction does not call into question the fundamental history of strong penetration of technologies in the semiconductor industry”, judges Oddo, who also says he is reassured by the dynamic promised for the 2025 and 2026 financial years.
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