ams OSRAM price target lowered to CHF 6 from CHF 6.10 at Jefferies

Jefferies analyst Janardan Menon lowered the firm’s price target on ams OSRAM to CHF 6 from CHF 6.10 and keeps a Hold rating on the shares. The European semiconductor sector has entered a new upcycle, which will result in “material further re-rating and strong” earnings growth over the next two years, the analyst tells investors. The firm expects growth rates of global semiconductor revenue to move into positive territory by early 2024 and to further accelerate to a cycle peak in the first half of 2025.