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IFX - Infineon Technologies AG News Story

€32.56 -0.1  -0.3%

Last Trade - 10:52am

Large Cap
Market Cap £36.33bn
Enterprise Value £39.52bn
Revenue £8.55bn
Position in Universe 36th / 1044

BUZZ-Infineon: 'Ample room for significant growth'- SocGen ups

Fri 7th May, 2021 8:38am
** Societe Generale upgrades German chipmaker Infineon
 IFXGn.DE  to "buy" from "hold", raises PT by 13.7% to EUR 41.5,
citing "ample room for significant growth" beyond 2021 capacity
    ** According to the broker, Infineon is well set to capture
strong growth in 2022, supported by undertaken capacity
    ** On Tuesday Infineon raised its FY guidance while
highlighting lack of investment in new capacity by its
manufacturing partners for tightness in semiconductor markets,
adding it had invested to expand its own capacity to match
market growth*:nL8N2MR105
    ** "After the recent share price corrections and our
earnings upgrade, we think Infineon's valuation is once again
attractive," SocGen adds, as strong secular growth drivers
remain in place
    ** The broker notes Infineon's shares now trade only at a
modest 8% premium to peers, which is set to expand with
investors' focus shifting to the group's solid growth prospects
in 2022 and beyond
    ** Share in Infineon have lost over 13% from their peak in

($1 = 0.8289 euros)

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