The analyst firm confirms its Buy recommendation on the stock, with an unchanged target price of E270.

' Recent weakness in share price is unjustified - We believe that Soitec's share price has come under pressure in recent days due to a misinterpretation of comments made by management on the outlook for FY24 ' says Jefferies.

On the contrary, we believe that there is no change in the company's message, nor in its forecast of a single-digit decline in sales for the current year', the analyst believes.

Jefferies considers that the next major catalyst will be the announcement of a second SmartSiC customer in March. Until then, we remain optimistic.

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