Demand hiccup coming in Q4
– Inderes
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We reiterate our 7.7 EUR target price and Accumulate recommendation for Okmetic after the Q3-result. The company had a strong Q3 profitability but due to a rapid slowdown in the semiconductor market, the Q4 is likely to become a challenging quarter for the company. Nonetheless long-term fundamentals in the market remain unchanged and the slowdown in the demand is likely to be only temporary. The company’s management indicated that the market will bounce back in Q1’16 and we expect that Q4 will not indicate a trend change in demand.