Bernstein starts Melexis with 'outperform', says auto sensors drive growth

Melexis NV

14/01/2026 12:22

** Bernstein initiates Belgian chipmaker Melexis MLXS.BR with "outperform" rating and target price of 73 euros, expecting structural growth from automotive electrification and sensor demand

** The company holds a niche position in automotive sensors and drivers, the broker says, adding that cars require more electronic content for electric vehicles, advanced safety systems and smart features

** Bernstein sees Melexis' addressable market growing 7% annually over the next five years, driven by higher electronic content per vehicle even with flat car production volumes

** The broker says cyclical recovery is underway, with automotive demand having bottomed 6-9 months ago and Melexis on track to surpass its 2023 peak revenue by 2027

** It highlights Melexis' focus on "safety-critical, hard-to-displace applications" and strong relationships with European and Asian automakers as key competitive advantages

** Out of 14 analysts that cover Melexis, eight rate it "strong buy" or "buy", ​five "hold" and one "sell" - LSEG data

** Shares of Melexis rise 1.8%, paring earlier gains of 5.3%

(Reporting by Lucie Barbier)

((Email: lucie.barbier@thomsonreuters.com))