Bodycote shares rise as Barclays upgrades to 'Overweight'

Bodycote

04/12/2025 09:21

** Shares of thermal processing services provider Bodycote  BOY.L up 4.5% at 671.5p - stock top gainer on FTSE mid-250 index .FTMC, which is up 0.11%

** Barclays raised BOY to Overweight from Underweight, raising its target price to 765p from 635p

** Brokerage says investors underappreciate BOY's exposure to data center power demand

** Adds that Bodycote's exposure to growth markets such as Aero Engines, Defence, Semiconductor, and Medical positions it for further momentum in growth

*"We see FY25 as the trough year for BOY with FY26 seeing a return to organic growth and Group EBITA margin increasing to 17.3%" - Barclays

  ** 7 of the eight analysts covering the stock have a "Buy" or higher rating, while 1 has it on "Hold";  median PT is 800p-  data compiled by LSEG

** YTD, stock had risen 6%

(Reporting by Tuhina in Bengaluru)

((Tuhina@thomsonreuters.com))