Pfeiffer Vacuum AG : Solid H1 driven by semiconductors, but caution on H2 – target price lowered to € 145 vs € 150
>Underperform rating maintained, target price lowered to € 145 vs € 150 - Based on the group’s FY 2020 results, we maintain our Underperform rating but have lowered our target price to € 145 vs € 150. Despite the order acceleration in Q4 and in the first few months of 2021, the group expects a solid H1, but remains cautious on H2. We think that Pfeiffer Vacuum will continue to benefit from the positive trend in the environment for the semiconductors industry. That sai...Pfeiffer Vacuum provides vacuum technology solutions. Co.'s products are divided into the areas of vacuum generation, vacuum measurement and analysis, installation elements, vacuum chambers and vacuum systems. It includes a range of hybrid and magnetically levitated turbopumps, oil-lubricated and drycompressing low and medium vacuum pumps, leak detectors, mass spectrometers and gauge heads. Co. manufactures vacuum chambers in cubical, cylindrical and bell-shaped designs. Co. also develops and manufactures vacuum systems for customer specific processes, such as testing components for the automotive and electronics industries, testing pressure vessels or packaging in the food industry.
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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