Infineon Serves Up a Bright Outlook for Fiscal 2017; Raising FVE to EUR 17
On March 24, Infineon raised its revenue and adjusted operating margin forecasts for both its fiscal second quarter and all of fiscal 2017, thanks to healthy demand across most end markets. We remain encouraged by the raise and continue to like the firm's prospects within the automotive sector in particular. We will raise our fair value estimates for Infineon to EUR 17 per share and $18 per U.S. ADR (based on an exchange rate of 0.926 as of March 24, 2017) and maintain our narrow moat rating for...
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