BESI: UBS downgrades its recommendation

BESI UBS has downgraded its recommendation on BE Semiconductor Industries from 'buy' to 'neutral'. The broker believes that while the group's long-term growth prospects remain intact, a lot is built into the current share price of the Dutch semiconductor equipment supplier.

BE Semiconductor Industries is a leading provider of advanced semiconductor manufacturing equipment and services. The company operates in various markets, including memory, logic, and foundry. In recent years, BE Semiconductor Industries has experienced strong growth due to increasing demand for its products and services from customers in the semiconductor industry.

However, UBS believes that a lot is built into the current share price of BE Semiconductor Industries, which is currently trading at around 135 euros per share. The broker has raised its price target for the stock to 135.4 euros, which is close to the current share price. This suggests that UBS believes that the stock is fairly valued and does not see significant upside potential in the near term.

Despite this downgrade, UBS remains optimistic about BE Semiconductor Industries' long-term growth prospects. The broker notes that the company has a strong competitive position in its markets and a solid track record of delivering consistent revenue growth. Additionally, BE Semiconductor Industries is well-positioned to benefit from the ongoing shift towards more advanced semiconductor technologies, such as artificial intelligence and 5G networks.

Overall, while UBS has downgraded its recommendation on BE Semiconductor Industries in the near term, the broker remains bullish on the company's long-term growth prospects.