Report
Frederic Yoboue

AMS - SELL | CHF15 vs. CHF14 (-17%)

AMS - SELL | CHF15 vs. CHF14 (-17%)
Faster recovery for OSRAM but still cautious on the integration

OSRAM upgrades its FY20 guidance
The faster recovery is in line with our expectations
We remain cautious on ams over the long run
Underlying
Ams AG

AMS provides advanced sensor and analog solutions for high value and emerging markets. Co.'s markets include Consumer and Communications and Industrial, Medical, Automotive. Co. delivers a broad range of innovative technology solutions for consumer electronics and communication device manufacturers including intelligent light sensors, MEMS microphone ICs, NFC solutions, active noise-cancelling ICs and ultra-low power management solutions. Co. offers customized, application-specific integrated circuits and standard solutions for a broad range of industrial applications including automation and control, position sensors, building automation, security and high-resolution seismic analysis.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Frederic Yoboue

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