Exane BNP Paribas upgrades Soitec's share price target

(ADPnews) - Apr 18, 2011 - Exane BNP Paribas has raised on Monday its share price target of French silicon-on-insulator wafers maker Soitec (EPA:SOI) to EUR 13.50 from EUR 12, while reiterating its "outperform" recommendation.

The reason for the higher price target is the company's growth potential mainly related to the diversification of its technological applications.

In addition, the analysts consider that the group could double its sales in three years if it makes two or three new acquisitions in the solar power field. Soitec could even triple its revenue in case it enters the light-emitting diode (LED) business, Exane BNP Paribas noted.

Today at 1422 CET, the shares in Soitec had lost 1.5% to EUR 10.86 on Euronext Paris.

(EUR 1.0 = USD 1.431)

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