(Boursier.com) — Soitec accelerates in session, on a gain of 4.75% to 142.2 euros. The semiconductor materials specialist is boosted by a note from UBS that says the group should benefit from a recovery in global smartphone sales as the market nears a bottom. The company is expected to face an inventory correction in fiscal 2024 given strong growth in its core mobile communications segment over the past nine months. That said, with enterprise value-to-sell multiples at a discount to the historical average, “we think this is more than pricey.” At the ‘purchase’ on the value, the bank adjusts its target from 211 to 195 euros.
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