AMS AG : Still much uncertainty and few short-term catalysts
>Neutral rating confirmed – target price lowered to CHF 7 (vs CHF 8) - Following a disappointing publication (Link to our initial comment), we are revising down our target price to CHF 7 CHF vs CHF 8 CHF and maintaining our Neutral recommendation. The share price shed 5% on Friday after a Q2 and Q3 outlook that fell well short of expectations, particularly in terms of margins, calling into question the credibility of medium/long term operating margin targets (adjuste...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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