SOITEC : Jefferies upgrades its recommendation to 'buy
In a research note, the US research firm recommends that investors look beyond the next 12 months when considering the semiconductor materials manufacturer.
Now that Soitec has provided more information on the slowdown in smartphone demand and inventory reduction, we believe that an important sword of Damocles has disappeared", it writes in its note.
We are skeptical about the management team's forecast of a business recovery in the second half of 2024, and consider upward revisions of targets unlikely in the short term', the analyst continues.
But we believe the market is ready to look beyond these factors to start considering catalysts for 2025 such as SmartSiC and POI substrate technologies', concludes Jefferies.
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