AMS AG : Core business in good health + OSRAM could become a powerful margin driver = Buy reiterated, target price raised to CHF 25 (vs CHF 20)
>Buy reiterated, target price raised to CHF 25 (vs CHF 20) - We reiterate our Buy recommendation and have raised our target price to CHF 25 (vs CHF 20). We have raised our forecast for 2021e EPS by 35%. Our positive recommendation and the upgrade to our target price is based on both 1/ the resilience of ams’ core activity (for Q3 and judging by the outlook Q4) and 2/ on the integration of OSRAM into our model, just when activity appears to have touched a low point and...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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