Europe Technology Semiconductors Updating Estimates and Price Targets for Infineon and STMicro

Goldman Sachs raised its long-term financial estimates and price targets for Infineon and STMicroelectronics, citing increased growth opportunities from AI-related semiconductor demand. The upgrade reflects strong trends in power semiconductors for Infineon and AI-driven optical networking for STMicro.

Key Takeaways

• 1.Updated earnings estimates and price targets for Infineon (IFX) and STMicro (STM) to reflect stronger AI-related semiconductor demand.
• 2.Infineon FY27-30 revenue estimates raised by 1-2%; STMicro FY26-30 revenue estimates raised by 4-9%.

Table of Contents

• Changes to estimates
• Infineon
• STMicro
• Valuation and key risks Infineon
• STMicro
• Disclosure Appendix

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