FRANKFURT (dpa-AFX Broker) - Investors at Infineon quickly shrugged off the already unsurprising lowering of the annual targets on Tuesday. After an even weaker trend beforehand, the shares of the semiconductor group jumped above their long-term average lines on Xetra right at the start. With a price gain of almost 9 percent, they approached their high for the year of EUR 35.415 in mid-March.

After not only competitor STMicro had recently deviated from its original forecasts in a more skeptical outlook, investors could expect something similar at Infineon. Accordingly, it was more a question of: Is this the last cut?

Analyst Janardan Menon from the investment bank Jefferies believes that any further cuts would be very moderate at best, but that the current outlook could just as easily prove to be too conservative. In any case, the destocking in the automotive and industrial sectors is probably nearing completion. In view of Infineon's strong long-term prospects, Menon advised investors to take advantage of any weakness in the share price to buy.

According to expert Sara Russo from Bernstein, shareholders now have a good idea of the "bottom" of the forecasts after the renewed lowering of the annual targets. Moreover, the signs are pointing to a cyclical recovery. This is supported not only by the signals for the third quarter, but also by a strong upturn in the last quarter of the year, which is necessary for the annual targets. Thus reassured, investors are likely to look beyond 2024 to the long-term growth trends, according to Russo./ag/nas/stk