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On Tuesday, Deutsche Bank (ETR:DBKGn) analysts raised the price target for Spectris (LON:SXS) Plc stock to £37.63 from £26.00 while maintaining a Hold rating. This adjustment follows Spectris’ confirmation of receiving a conditional proposal from Advent for a potential cash offer.
The proposed offer from Advent stands at 3,763 pence per share, including a dividend of 28 pence per share. This represents an 85% premium to Spectris’ undisturbed price and implies a December fiscal year 2025 estimated enterprise value to EBITA of 18.7 times and a price-to-earnings ratio of 24.6 times. These metrics are expected to reduce to 16.4 times and 21.0 times, respectively, based on current fiscal year 2026 estimates.
Spectris’ board has indicated a willingness to unanimously recommend the proposal if Advent makes a firm offer. Advent has until 5 p.m. on July 7 to decide on proceeding with the offer.
While press reports suggest other parties may have shown interest in Spectris’ assets, the official announcement did not confirm this. Deutsche Bank analysts view the offer as substantial, with a strong likelihood of success if Advent proceeds.
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