UBS has reiterated its buy recommendation on Soitec, with a target price of 211 euros, following the company's announcement of consolidated sales of 274 million euros for the 3rd quarter.

The analyst believes that Soitec is still on track to meet full-year forecasts

' Third-quarter sales are broadly in line with expectations, and FY23 forecasts have been reiterated, which we believe will provide some relief ' says UBS.

Soitec continues to anticipate sales growth of around 20% at constant scope and exchange rates for the 2022-2023 financial year, and an EBITDA margin of around 36%.

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