Jenoptik AG : Good momentum to continue until H1 2023 thanks to semiconductor equipment makers
>Neutral rating and € 22 target price maintained - Following these Q3 2022 results, we are maintaining our Neutral rating and € 22 target price. The group confirmed still strong demand from its clients, notably ASML and Applied Material until H1 2023 at least. Jenoptik is clearly well positioned to benefit from strong demand from semiconductor equipment makers and from BG Medical and Swissoptic (its two latest acquisitions in 2021 from ASML). However, we think that th...Jenoptik is a holding company. Through its subsidiaries, Co. is an optoelectronics group engaged in the production of range of products including original equipment manufacturer or standard components, modules and subsystems through to systems and production lines for numerous sectors. Co.'s operating business is organized in the following three operating segments: Laser & Optical Systems, Metrology, and Defense & Civil Systems. The operating business within the segments is further subdivided into five divisions: Lasers & Material Processing, Optical Systems, Industrial Metrology, Traffic Solutions, and Defense & Civil Systems, each of which are subdivided into several business units.
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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