LONDON (dpa-AFX Broker) - US bank Citigroup has lowered its target price for Infineon from 55 to 53 euros ahead of the fourth quarter reporting season, but left its rating at "buy". In a study published on Monday, analyst Andrew Gardiner expects a confirmation of previous trends in the European tech hardware sector rather than a turning point. Contrary to market fears of a correction, he believes that business with power semiconductors has developed robustly. Meanwhile, orders from chip industry suppliers should gradually recover. He is particularly confident about STMicroelectronics./tih/la

Publication of the original study: 22.01.2024 / 00:00 / ET

First dissemination of the original study: 22.01.2024 / 00:00 / ET

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