(Il Sole 24 Ore Radiocor) - Milano, 4 mag - Shares of the French semiconductor material manufacturer Soitec were sharply higher in Paris trade, after analysts at Deutsche Bank confirmed their "buy" recommendation and more than doubled their target price.

At 1035 GMT, Soitec shares were up 13.7% to 144.35 euros. The stock price has roughly quintupled since the beginning of the year.

Deutsche Bank analysts raised their target price on the stock to 150 euros from 70 euros, highlighting Soitec's leadership position in the semiconductor market and expectations of further growth this year.

Deutsche Bank analysts say that the steep increase in Soitec's share price can easily be explained by its rapid transition from the struggling smartphone sector to that of artificial intelligence.

Analysts at the German bank note that 'there may be further positive catalysts on the horizon, particularly from the adoption of SOI wafers as the standard for photonic.

integrated circuits (waveguides, modulators).'

(RADIOCOR) 04-05-26 12:50:37 (0288) 5 NNNN