Appealing growth but valuation full - Berenberg starts Technoprobe at 'hold'

FormFactor

15/09/2022 09:29

** Berenberg starts coverage of Italy's Technoprobe
 TPRO.MI  at "hold", pointing to the probe card maker's growth
potential and "outstanding fundamentals"
    ** However, it says the stock valuation is full, as it
trades at about 70% premium compared to its main competitor
FormFactor  FORM.O  
    ** Technoprobe will continue to outperform the overall probe
card market, the broker says, given that its ability to keep
large part of the production in-house gives the company a marked
advantage versus  peers
    ** Given the strong cash position following its February
IPO, Berenberg forecasts Technoprobe will continue its M&A
activity, with an estimated firepower of 1.2 billion euros 
($1.19 billion)
    ** Out of three analysts that cover Technoprobe, two rate
the stock "strong buy" or "buy"​ and one analyst rates it "hold"
    


($1 = 1.0044 euros)

 (Reporting by Carlo Giovanni Boffa)
 ((Carlogiovanni.boffa@thomosnreuters.com))