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Investing.com - Jefferies upgraded PVA TePla AG (TPE:TPE) (OTC:SRUXF) from Hold to Buy and raised its price target to EUR28.00 from EUR19.00.
The upgrade follows stronger-than-expected order intake since Jefferies’ previous downgrade of the company in May, with particularly strong momentum in the metrology segment expected to continue into the second half of the year.
Jefferies noted that while some risk remains around the company’s fiscal year 2025 guidance due to potential delays and operating expense investments, these concerns are outweighed by the strength in order flow.
The firm believes the strong order momentum should drive a re-rating of PVA TePla shares, which currently trade at 15.9 times EV/EBIT on a 12-month forward basis.
An upcoming Capital Markets Day could serve as an additional catalyst for the stock, according to Jefferies’ analysis.
In other recent news, Jefferies analysts have downgraded their rating for PVA TePla AG from "Buy" to "Hold." Despite this downgrade, they raised the price target for the company to EUR19.00, up from EUR18.00. This adjustment follows a significant increase in PVA TePla’s share value, which has risen approximately 40% this year, outperforming its peers in the semiconductor equipment sector. Jefferies noted PVA TePla’s strong position in the metrology sector and its potential growth from new customer qualifications. However, analysts believe the current stock price already accounts for these positive factors. They do not anticipate any immediate catalysts that could further increase the stock’s value in the short term. These developments reflect recent changes in the company’s outlook.
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