Jefferies upgrades SUSS MicroTec stock to Buy on expected order recovery

Published 10/11/2025, 07:58
© Reuters

Investing.com - Jefferies upgraded SUSS MicroTec SE (ETR:SMHN) from Hold to Buy and raised its price target to EUR42.00 from EUR31.00 on Monday.

The upgrade reflects Jefferies’ view that the anticipated weakness in 2025 orders and backlog is already fully incorporated in consensus estimates, which project a 14% sales decline for fiscal year 2026.

Jefferies cited the company’s current low valuation at 14 times FY26 earnings as another factor supporting the rating change.

The research firm expects SUSS MicroTec’s orders to recover starting in Q4 2025, driven by temporary bonding orders from Micron and Samsung, UV scanner orders from TSMC, and a rebound in photomask cleaning orders.

New products are anticipated to drive sales and margin improvements from 2027 onward, contributing to Jefferies’ more positive outlook on the semiconductor equipment manufacturer.

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