Jefferies upgrades Siltronic stock rating to Buy as wafer inventories decline

Published 20/10/2025, 08:16
Jefferies upgrades Siltronic stock rating to Buy as wafer inventories decline

Investing.com - Jefferies upgraded Siltronic AG (ETR:WAF) (OTC:SSLLF) from Hold to Buy and raised its price target to EUR75.00 from EUR45.00.

The upgrade comes despite the recent rally in Siltronic shares, which Jefferies notes still trade near historical lows at 0.9 times 2026 estimated price-to-book value.

Jefferies points out that while customer wafer inventories remain elevated, a gradual drawdown is currently underway at current utilization levels.

The firm believes Q3 likely marks another bottom for Siltronic, with no clear negative catalysts on the horizon.

Jefferies sees potential for further rerating of Siltronic shares ahead of a possible upgrade cycle in the second half of 2026.

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