MS ups Melexis as auto semis recovery looms, shares rise

Melexis NV

24/06/2025 09:06

** Morgan Stanley upgrades Melexis MLXS.BR to "overweight" from "equal-weigh," expecting a cyclical improvement in the auto semis sector

** Shares of the semiconductor devices maker rise 6.5% to the top of Belgian blue chip index BEL 20 .BFX

** "Melexis is our most preferred European small cap semis name as we expect the Belgian firm to benefit from a cyclical recovery in automotive semis, compounded by design win momentum in China," MS analysts say

** Morgan Stanley adds it sees structural support from the modernisation of automotive platforms and the proliferation of robotics over the median and long term

** The broker raises its target price to 80 euros from 60 euros

** Among the 12 analysts that cover Melexis NV, the breakdown of recommendations is seven "strong buy" or "buy," and  five "hold"

 (Reporting by Mathias de Rozario in Gdansk)

 ((mathias.derozario@thomsonreuters.com;))