The Infineon chart is brightening again after some positive news. The 21-day and 50-day lines as indicators for the short and medium-term trend were recaptured at the start of the week. The multi-year high of March 1 at 36.96 euros is coming back into focus. Analysts even expect prices beyond the 40 euro mark.
Several positive pieces of news recently helped the Infineon course back on its feet: Credit Suisse, for example, upgraded the stocks from “Underperform” to “Outperform”. Analyst Achal Sultania assumes that, given the accelerated implementation of e-mobility, Infineon will be able to exceed its medium-term goals. His new target price is EUR 42.50.
Bernstein Research (“Outperform”) sees the share still fairly valued at 43 euros. According to analyst Mark Li, the fire in a factory run by competitor Renesas means that the supply of car chips will remain scarce in the short term. In the long term, however, he does not see any effects on the growth trend. Li advises investors to take advantage of price weaknesses at Infineon to get started.
Membership in the Eurozone leading index EuroStoxx 50 since Monday as well as the restart of production capacities in Austin, Texas, where the original quantities should be reached again from June after the severe winter storm, are also to be rated positively.
The environment couldn’t be better. The electric mobility megatrend is increasingly proving to be a growth driver at Infineon. Given a sustained positive news flow, the share should therefore set its course to the EUR 40 mark and more in the coming weeks.
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(With material from dpa-AFX)
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