Q2 2016 review and our TMT Top Picks for Q3: Wirecard and Infineon
In Software & IT Services, due to the environment caused by Brexit and political uncertainties, we have had no pick for Q3 2016 since 24th June when we removed Atos from the list.
In Payments, we expect investors to show an increasing appetite for the rising momentum of eCommerce. As such, we have placed Wirecard (Buy, FV EUR54) on our Q3 Top Pick list to benefit from extremely good fundamentals
In Semiconductors, given the current supportive environment in the automotive segment within the semiconductor market, we believe that investors’ appetite for auto players will increase as June quarterly publications should be robust. As a result, we add Infineon (Buy, FV EUR15) to our Q3 Top Pick list to benefit from an attractive entry point as the stock has recently suffered
In Telecoms, although market trends are improving, we are not including any stock in our Q3 Top pick list.
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