Credit Suisse reaffirms its 'outperform' rating on Soitec and raises its target price from 219 to 245 euros, believing that the change in the semiconductor materials group's targets resets expectations and paves the way for an upgrade.

Reflecting Soitec's new outlook for its 2024 and 2026 financial years, the broker is lowering its own estimates for these two years by 8% and 14% respectively for revenues, as well as 9% and 16% for EBITDA.

'With short-term threats to the outlook for the 2024 financial year largely removed, we expect investor attention to shift to medium-term growth potential', it nevertheless believes.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.