02:52 AM EDT, 09/10/2026 (MT Newswires) -- Berenberg sees Infineon Technologies (IFX.F) recent share price decline as an "attractive" buy opportunity, saying the analog semiconductor investment theme "remains intact" even with concerns about the sustainability of artificial intelligence infrastructure spend. "First, AI-related power semiconductor demand remains on track for strong growth over the next several years. Infineon offers one of the broadest power semiconductor portfolios and has already penetrated the major AI infrastructure customers. Second, the non-AI end-markets continue to recover gradually, while channel and customer inventories remain healthy. For the time being, we see little evidence of customers rebuilding excessive inventory," analysts said Wednesday in a note focused on the semiconductor equipment sector. "Third, pricing dynamics remain supportive. Major analog semi companies have implemented multiple price increases this year, while AI-driven supply constraints in selected product categories persist, supporting a favourable [average selling price] environment. Finally, we believe Infineon's market-share losses in the Chinese automotive power semiconductor market have [stabilized]," the note said. With local players already accounting for over 60% of the market by Berenberg's estimates, the research firm expects further marginal localization pressures will become "progressively smaller." Accordingly, Berenberg reiterated the stock's buy rating and price target of 100 euros.

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