Deutsche Bank Starts indie Semiconductor Inc (INDI) at Buy; Compelling Growth in AutoTech

July 23, 2021 4:05 AM EDT
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Price: $10.56 --0%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 24
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(Updated - July 23, 2021 7:46 AM EDT)

Deutsche Bank analyst Ross Seymore initiates coverage on indie Semiconductor Inc (NASDAQ: INDI) with a Buy rating and a price target of $14.00.

The analyst comments "Having gone public in June 2021 via SPAC merger, we believe INDI offers compelling growth potential in the AutoTech market, one of the most attractive secular growth areas within the semiconductor sector. While INDI’s revenue level is quite small currently (~DBe CY21 revenue of $44m), the company’s decade+ strategic focus on the automotive market has resulted in significant traction with customers (on 12 Tier 1 approved vendor lists, $2b strategic backlog, etc.) that should allow for a significant, increasingly diversified, and relatively predictable, ramp in revenue over the next 3-5+ years (DBe ~80% revenue CAGR to ~$475m revenue in 2025)."

For an analyst ratings summary and ratings history on indie Semiconductor Inc click here. For more ratings news on indie Semiconductor Inc click here.

Shares of indie Semiconductor Inc closed at $8.26 yesterday.

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