(CercleFinance.com) – Soitec shares posted one of the strongest rises in the SBF 120 index on the Paris Stock Exchange on Wednesday, driven by the initiation of buying coverage by analysts at New Street Research.
At 10:30 a.m., the title won more than 4.8%, signing the fifth progression of the SBF, which gained 0.3% at the same time.
New Street, an independent research firm specializing in growth stocks, today began to purchase its cover on the stock with a target price of 190 euros.
In its note, the London firm salutes the technological heritage of the specialist in materials for semiconductors as well as its situation of virtual monopoly on the segments of silicon on insulator (SOI) for radio-frequency (RF) and transistors (FD).
According to New Street, Soitec can claim growth of more than 20% per year driven by the continued development of the 5G market, the deployment of the Internet of Things (IoT) and the growing adoption of its ‘SmartCut’ process in the field of silicon carbide.
‘The title has fallen significantly this year, even on a relative basis, which makes us say that this is a great entry point for investors’, underlines the research department.
The rise of the title is also part of a context of growth in technology stocks in Europe following the reassuring results published last night by Microsoft and Alphabet.
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