Deutsche Bank reinitiates IQE at buy with 60p target as end markets boom

Deutsche Bank has reinitiated coverage of IQE PLC (AIM:IQE), the Cardiff-based compound semiconductor wafer manufacturer, with a buy recommendation and a 60p price target, representing an 11% upside from the last closing price of 54p. Analyst John Karidis said the company is benefiting from very strong demand across several end markets, citing booming conditions in data centres and AI cloud infrastructure, military and defence, and satellite communications.