Susquehanna upgraded Infineon (IFNNY) to Positive from Neutral with a price target of EUR 45, up from EUR 32. The company’s leadership across artificial intelligence data center power supply cycle positions it to lead the market, the analyst tells investors in a research note. The firm says the automotive market may also be nearing a bottom, with most of market weakness already reflected in Infineon shares. In addition, Infineon is penetrating the fast-growing gallium nitride market while trading at a cheap valuation verses peers, contends Susquehanna.
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