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Investing.com - UBS upgraded SUSS MicroTec SE (ETR:SMHN) from Neutral to Buy on Monday, while raising its price target to EUR39.00 from EUR30.00.
The upgrade comes as UBS sees an improving artificial intelligence demand outlook for the company, following significant investment announcements that UBS estimates will give SUSS more than 30% exposure to the AI sector in fiscal year 2024.
UBS has revised its forecast for SUSS MicroTec’s 2026 revenues, now projecting a decline of 5% year-over-year, a significant improvement from its previous estimate of a 22% decline and more optimistic than the consensus forecast of a 15% decrease.
The investment bank also anticipates a revenue rebound of 5% year-over-year in 2027, citing the upcoming Capital Markets Day and improving order momentum as potential positive catalysts for the stock.
UBS noted that SUSS MicroTec is currently trading at 15 times price-to-earnings ratio, below both its 10-year average of 17 times and the peer average of 30 times, suggesting potential for valuation expansion.
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