A positive analyst opinion on Friday pushed Elmos Semiconductor shares to their highest level in a month.
In early trading they gained 3.2 percent to 68.70 euros at the top of the slightly weaker SDAX small cap index.
The investment bank Stifel started the rating for the semiconductor manufacturer’s shares with “Buy”. The price target is 100 euros and is more than six euros above the previous record high from April 2023.
Elmos Semiconductor shares performed weaker from the end of November to the beginning of February, partly due to negative headlines from the sector. However, they were well supported at the 62 euro mark.
Elmos is riding the wave of semiconductor components for the automotive industry, said Stifel analyst Florian Sager in his study. He praised the management and the stable shareholder structure. The discount of the securities on the valuation of the competition opens up an attractive buying opportunity. Converting more profits into available cash by reducing investments and working capital is the key lever that the market is currently underestimating, he said.
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FRANKFURT (dpa-AFX)
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