Italy's Technoprobe jumps as UBS initiates at 'buy' on AI upside

Technoprobe

18/09/2025 10:11

** Shares of Italy's Technoprobe TPRO.MI rise as much as 8.9%, hitting an intraday high at 8.1 euros, their highest point since August 2024

** UBS initiates its coverage for Technoprobe at a "buy" rating and a PT of 10.4 euros per share, seeing an upside for the firm on testing for AI chips

** UBS sees increasing demand in probe cards - a semiconductor test segment in which Technoprobe holds a 30% market share - and upside potential for high bandwidth memory(HBM), an area in which the firm is poised to gain market shares in the next few years

** "We estimate revenue from AI increasing from 220 million euros ($260.28 million) in 2025 to 330 million euros in 2026, or 40-50% of revenue, driven by this step up, as well as continued strength in testing of AI GPUs," the broker adds

** UBS adds that M&A could support Technoprobe's growth, given its previous track record in acquiring key tech and its current cash balance of 660 million euros

** As of 0859 GMT, shares are up 6.4%, gaining 38% YTD including session's rise

       ($1 = 0.8452 euros)

 (Enrico Sciacovelli)

 ((Enrico.sciacovelli@thomsonreuters.com))