DB ups PVA TePla to 'buy', seeing potential for structurally higher returns

Pva Tepla AG

23/05/2025 09:05

** Deutsche Bank upgrades German semiconductor equipment maker PVA TePla TPEG.DE to "buy" from "hold", citing expected growth in its metrology business that focuses on measurement systems critical for semiconductor manufacturing

** The broker says PVA TePla has transformed from a niche equipment maker to an enabler of next-generation semiconductor manufacturing

** It expects 2025 to be a transition year for the company with flat revenues and lower earnings as it consolidates prior growth

** "As growth in metrology accelerates and recent investments start to pay off, the company is well positioned to deliver structurally higher returns from 2026 onwards," DB says

** PVA TePla's stock is up 8.9%, at the top of Germany's small-cap index .SDAXI

 (Reporting by Maria Rugamer)

 ((Maria.Rugamer@thomsonreuters.com))