(News Bulletin 247) – Soitec climbed 6% and thus posted one of the best performances in the SBF120, despite a profit warning issued at the end of last week, an announcement that was nevertheless quite expected and rather well received by the analysts in charge of the case.
The semiconductor materials supplier said it expects stable organic revenue for its 2023-24 fiscal year, then around $2.1 billion for 2025-26, against a communicated target of $2.3 billion. in June 2022.
This announcement leads Oddo BHF to reduce its EPS estimates by 17% for 2023-24 and 3% for 2024-25, as well as its target price of 175 to 170 euros, but it nevertheless reaffirms its ‘outperformance’ opinion on the title.
“The problem of inventory reduction does not call into question the fundamental history of strong penetration of technologies in the semiconductor industry”, judges the analyst, who also says he is reassured by the dynamic promised for the 2025 and 2026 financial years.
Similarly, if it lowers its price target from 190 to 180 euros after this profit warning, Stifel reaffirms its ‘buy’ recommendation on Soitec, claiming to continue to see it as ‘a case of long-term growth’.
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