Infineon and ‘buy for Credit Lyonnais

Credit Lyonnais promotes from Add to Buy a blue chip German semiconductor Infineon, which sees a target price of 30 euros from 20 current (now the title loses 2.34% to 20.41 euros) . Among the reasons for the improvement, which also includes the rise in earnings per share estimates for 2003, lists the recovery in demand, but also changing the type of DRAM memory market led dall’ipotizzata union Micron / Hynix (the purchase is by the American Micron to come tomorrow from creditors of Hynix). The new leader will be created by the marriage 45% of the market, combined with 22% and 12% of Samsung, Infineon, will create the foundation for a concentration of supply and rising prices, which have not yet discounted in prices Infineon. CLyonnais estimated 2003 earnings per share for Infineon rise 98 cents to 1.08 euros earlier (in 2001 the company has lost 1.02 cents for 2002 is expected to red at 45 cents). CLyonnais The model is however based on an average spot price of DRAM memory from 128MB to $ 4.8 (in fact, those prices have dropped recently), which would lead in 2003, more than 4 billion euros turnover and 750 million of EBIT for an average price of $ 6 revenue and earnings rise respectively to 5.1 and 1.7 billion to $ 7 for DRAM climb to 6 and 3 billion.

Related posts

• Paris, the defense collapses Alstom (0)
• Milan: Tuesday ‘by lions (0)
• Telecom Cartasi ’set for e-commerce (0)
• Milan ends on the line of equality ‘ (0)
• IPO in difficulty ‘, but not all are for sale (0)