Elmos slide towards 200

Jun 19, 2023

FRANKFURT (dpa-AFX Broker) - The papers of Elmos dived by more than 8 percent to 71.60 Euro on Monday morning. The shares of the semiconductor manufacturer are thus heading back towards their 200-day line at slightly above 69 euros.

Analyst Jonah Emerson of Hauck Aufhäuser removed his buy recommendation in a recent study and cut his price target to 85 euros. According to his assessment, the latest business figures of Infineon allow rather negative conclusions. This is because a normalization of vehicle prices with easing supply chain problems would again put manufacturers in a better position to tighten the screws on suppliers, according to Emerson. In addition, the separation from wafer production in Dortmund, which actually makes sense, will only pay off in the medium term./ag/mis