Inficon: Credit Suisse starts with "underperform"
14/01/2020 08:33
** Credit Suisse starts Swiss vacuum solutions company
Inficon IFCN.S with an "underperform" rating, saying its
valuation already prices in a semiconductor cycle recovery
** CS adds it is still difficult to assess the timing and
scale of recovery in NAND logic gate investments
** To beat CS estimates, sector capex would have to rise
further, the broker says, adding that firm decisions on this are
likely to be made in H2
** However, CS says that sector capex should grow by 7% and
5% in 2020 and 2021 respectively, while capex at Inficon's main
semiconductor customers may decline by 2% in 2020
((elizaveta.gladun@thomsonreuters.com))