Credit Suisse upgraded Himax Technologies (NASDAQ:HIMX) to Outperform from Neutral and raised the price target on the stock to $8 from $7.
The firm's analysts said that they have cut 2023-25E EPS from $0.45/0.79/1 to $0.26/0.62/0.93 on weaker CE demand.
The analysts added that they upgraded Himax as inventory adjustment is coming to an end and GM should stay above pre-COVID levels on rising auto mix.
The firm's new price target of $8 on Himax is based on DCF and implies 13x 2024E P/E.
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Credit Suisse upgraded Himax Technologies (NASDAQ:HIMX) to Outperform from Neutral and raised the price target on the stock to $8 from $7.
The firm's analysts said that they have cut 2023-25E EPS from $0.45/0.79/1 to $0.26/0.62/0.93 on weaker CE demand.
The analysts added that they upgraded Himax as inventory adjustment is coming to an end and GM should stay above pre-COVID levels on rising auto mix.
The firm's new price target of $8 on Himax is based on DCF and implies 13x 2024E P/E.