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IFX - Infineon Technologies AG News Story

€30.47 -1.0  -3.3%

Last Trade - 12/05/21

Large Cap
Market Cap £35.20bn
Enterprise Value £38.41bn
Revenue £8.58bn
Position in Universe 36th / 1053

BUZZ-Semiconductors: Remote work to fuel growth - Liberum

Thu 18th June, 2020 7:37am
** Liberum expects semiconductors to rerate after the
COVID-19 outbreak, citing faster growth in cloud computing and
connectivity due to remote working and resilience in earnings
and balance sheets during the health crisis
    ** The broker sees Q2 results in line or beating
expectations in most cases as well as earnings upgrades as the
upcycle regains momentum into 2021
    ** Liberum's top picks are STMicroelectronics  STM.PA ,
Infineon  IFXGn.DE , and ASML  ASML.AS  
    ** The broker says STMicroelectronics is trading at an
unfair discount given its continued strength during the COVID-19
outbreak and its robust outlook
    ** Liberum says Infineon should benefit from an acceleration
in auto and electronic vehicle (EV) sales and raises PT by 13%
to 25 euros ($28.12)
    ** It also raises price target for ASML by 9% to EUR 350,
citing an expected recovery in capital expenditure in memory and
improvement in gross margin in the years ahead
    ** The broker expects a recovery for Melexis  MLXS.BR  in Q3
and raises its FY 2021-2022 estimates, increasing price target
by 14% to 74.0 euros as a consequence


($1 = 0.8890 euros)

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