Bernstein ups AMS Osram after successful refinancing plan
12/01/2024 10:55
** Bernstein upgrades AMS Osram AMS.S , AMS.VI to
"outperform" from "market perform", citing a "well-executed"
refinancing plan completed in December, a solid execution track
record in H2 2023, and a promising new management team
** The broker says the Swiss sensor maker enters 2024 in
better position than its peers, as it has already navigated some
auto inventory corrections to fight cyclical headwinds in the
automotive industry
** It says MicroLED is a growth catalyst to watch for AMS
due to the expected adoption of the technology in Apple watches
** "We still believe that 2024 will be a bottom year for
AMS, but given the reset in expectations and the positive value
of the strategic portfolio re-alignment we now see a brighter
future ahead" -Bernstein
** Shares in AMS are up 4.2% as of 1049 GTM
** Out of 10 analysts that cover AMS Osram, four rate the
stock "strong buy" or "buy", four "hold", and two "strong
sell" or "sell"
(Reporting by Eva Orsolya Papp)
((Evaorsolya.papp@thomsonreuters.com))