Barclays ups AMS Osram to 'equal-weight' amid tough 2024 setup for the sector

ams-OSRAM AG

10/01/2024 09:29

** Barclays upgrades its rating for Swiss sensor maker AMS
Osram  AMS.S  to "equal-weight" from "underweight", underlining
the company's equity raise and debt refinancing, which it deems
successful
    ** The broker does not see any near-term negative catalyst
for the Austrian-based firm, although flags it is not completely
in the clear
    ** Furthermore, it expects AMS Osram to deliver improving
margins and revenue this year
    ** "We believe it is a tough setup for the sector after the
strong rally at the end of 2023 and because we see limited
earnings upgrades" Barclays writes
    ** Out of 10 analysts that cover ams Osram AG, three rate
the stock "strong buy" or "buy,"​five rate "hold" and two rate
the stock "strong sell" or "sell"

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))