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Fly News Breaks for October 16, 2019
IFNNY
Oct 16, 2019 | 05:51 EDT
Societe Generale analyst Alexander Peterc downgraded Infineon to Sell from Hold with a price target of 15.50 euros. The company's gross margins will remain under pressure in the first half of 2020 due to increasing unsaturation charges and high inventory levels, Peterc tells investors in a research note. The analyst calls the automotive end market "stubbornly uncooperative" and is also concerned about restructuring costs related to Infineon's Cypress integration.
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