(News Bulletin 247) – Stifel reaffirms its ‘buy’ recommendation on Soitec with a price target lowered from 180 to 170 euros, in the wake of a further 14.8% drop in its EPS assumption for the 2023 financial year -24 from the group of semiconductor materials.
“This reduction reflects the most recent data suggesting a further deterioration in smartphone demand and a prolonged period of inventory digestion in the supply chain,” explains the broker.
Stifel expects Soitec to update its outlook for 2023-24 in the coming quarters, but he believes such a revision is already expected by investors, given the stock’s underperformance since the last quarter. publication.
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