Siltronic upgraded to Buy from Hold at Berenberg

Berenberg upgraded Siltronic to Buy from Hold with a price target of EUR 107, up from EUR 76. After six sequential quarters of decelerating growth and a 2023 characterized by margin compression, the “tide may be about to turn for Siltronic,” the analyst tells investors in a research note. The firm says data suggest demand for consumer electronics may have troughed, while inventory reductions across the value chain also appear well underway.