(CercleFinance.com) – Oddo BHF reaffirms its ‘outperformance’ opinion on Soitec with a price target lowered from 205 to 190 euros, following a visit to the website of the semiconductor materials group in Bernin and to the Oddo BHF forum.
While it remains “very optimistic about the future of the group’s technologies (responding to promising themes)”, the design office notes that in the short term, the end market for smartphones remains under strong pressure (72% of turnover in the first semester).
“This leads us to adopt a more cautious assumption of organic revenue growth in 2024 (+12% against +20%) and to lower our EPS sequence for the 2024 and 2025 financial years (-7% on average)”, adds the analyst in charge of the file.
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