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Investing.com - Deutsche Bank upgraded SUSS MicroTec SE (ETR:SMHN) from Hold to Buy and raised its price target to EUR40.00 from EUR36.00.
The upgrade follows SUSS MicroTec’s third-quarter results, which contained no major surprises after the company’s pre-release and guidance reduction last week.
Deutsche Bank noted that the company’s tone regarding order momentum has "clearly turned more constructive," with SUSS MicroTec now expecting a significant improvement in fourth-quarter order intake.
The bank highlighted that the CEO’s comments on customer sentiment sounded more confident than in recent months, following the executive’s return from an extended trip to Asia where direct customer discussions took place.
Deutsche Bank believes the balance of risks has shifted favorably, noting that consensus expectations have already been reset and buy-side numbers are likely below consensus estimates.
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