Citi
May 18, 2026
The Point For Europe
Daily UpdateEquitiesMacro Economic IndicatorsCryptoInformation TechnologyHealth Care
Citi Research highlights Infineon as its Top Call with a raised EUR80 target price on AI and cyclical recovery, while adjusting European Pharma and Shipping forecasts for 2026.
Key Takeaways
- 1.Infineon Technologies is highlighted as the Top Call, with estimates and target price (to EUR80) raised due to AI demand and a cyclical recovery in Automotive and Industrials.
- 2.Citi maintains a positive view on European Pharmaceuticals post-1Q26, citing three 'Buys' (AZN, Roche, Novartis) and a busy catalyst-path for the second half of the year.
- 3.A.P. Møller - Mærsk estimates are increased significantly as the Red Sea disruption is expected to persist through late 2026, tightening the supply-demand balance and supporting freight rates.
Table of Contents
- Top Call
- Company
- Must Read
- Industry
- Strategy & Economics
- Fixed Income & FX
- Key Rating and Target Price Changes
- Appendix A-1
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Authors
Shrey SrivastavaAlex SaundersGraham ParryAndrew M. Gardiner, CFA
Securities
IFXGn.DENOVOb.COMAERSKb.COABNd.ASBTC
Themes
AI Demand TailwindsGeopolitical Disruption (Red Sea/Middle East)Quantum Computing Threats to BlockchainRegional Asset Allocation (China/LatAm Overweight)
Regions
EuropeLatin AmericaAsia PacificGermanyDenmarkNetherlands