DB cuts Aixtron to 'hold' on worsening outlook for SiC biz
** Deutsche Bank cuts German chip systems manufacturer Aixtron AIXGn.DE to "hold" from "buy" due to a worsening outlook for the power semi business, especially silicon carbide (SiC)
** Stock down around 2%
** "2024 will be a transition year with hardly any growth," the brokerage says
** DB also notes that the previously anticipated growth in 2025 doesn't seem like a realistic scenario anymore, citing negative sector news flow
** Aixtron's FY 2024 sales guidance includes short-term orders between 20 and 40 million euros, but soft end markets suggest that this number will be reached "at the low end at best" the broker adds
** Out of 19 analysts covering the company, 10 rate the stock "strong buy" or "buy", nine rate it "hold"
Reporting by Anastasiia Kozlova
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