(News Bulletin 247) – Credit Suisse reaffirms its ‘outperformance’ opinion on Soitec while raising its price target from 219 to 245 euros, judging that the modification of the objectives of the group of semiconductor materials resets expectations and paves the way for a revaluation .
Reflecting the new outlook posted by Soitec for its 2024 and 2026 financial years, the broker lowers its own estimates for these two financial years by 8% and 14% respectively for revenues, as well as 9% and 16% for EBITDA.
“With near-term threats to the FY2024 outlook largely removed, we expect investors’ focus to shift to medium-term growth potential,” he said.
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