Infineon chipmaker upped to buy at Merrill (IFX, DE:623100, MU) By Emily Church
LONDON (CBS.MW) -- Merrill Lynch Thursday raised its rating on German memory chipmaker Infineon Technologies (IFX) (DE:623100) to a buy from a neutral. The broker raised its fiscal year 2004 raising earnings per share forecast for the company by 19 percent to 31 euro cents a share. "The 2004 DRAM outlook continues to improve as it becomes clear that the industry as a whole was cautious on supply growth in the quarter, and Infineon seems likely to gain share," Merrill said. Rivals include Micron Technologies (MU) of the U.S. among other Asian chipmakers.
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