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VACN - VAT AG News Story

CHF260.8 7.2  2.8%

Last Trade - 07/05/21

Large Cap
Market Cap £6.21bn
Enterprise Value £6.32bn
Revenue £550.0m
Position in Universe 148th / 1050

BUZZ-Semiconductor suppliers set for strong 2021 - Berenberg

Thu 7th January, 2021 8:04am
** According to Berenberg semiconductor suppliers are set
for strong 2021 
    ** The brokerage says suppliers such as VAT Group  VACN.S ,
INFICON  IFCN.S  and XP Power  XPP.L  benefit from a broad range
of structural trends related to digitisation and rising demand
for semiconductors
    ** We think there is potential for strong organic growth
averaging in the range of 10-15% over the coming decade and that
2021 will be an above-average year for the industry, it adds
    ** The brokerage thinks pricing pressure in China is likely
to ease after the impact from initial tenders wears off
    ** Berenberg says 2021 consensus earnings estimates for VAT,
INFICON and XP Power are too low, and reiterates "buy" on all
    ** It names INFICON as its preferred Swiss choice, thanks to
its strategic commitment to China and more attractive valuation
- raises price target by 18% to CHF 1,000
    ** Berenberg ups VAT's price target by 23% to CHF 245, as it
believes the company's share price will continue to be driven by
positive EPS momentum

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