Jefferies analyst Om Bakhda upgraded the rating on AIXTRON to a Buy today, setting a price target of €27.00.
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Om Bakhda has given his Buy rating due to a combination of factors tied to improving demand visibility and attractive valuation. He highlights that rising capital expenditure by hyperscalers and earlier‑than‑expected spending by key datacom and optical customers should translate into stronger‑than‑anticipated optoelectronics revenues for AIXTRON in 2026 and 2027.
He also points to AIXTRON’s dominant position in GaN MOCVD tools, which positions the company to benefit from medium‑term AI data‑center power conversion needs, while the more cautious guidance on SiC tools effectively lowers downside risk. In his view, the shares still trade on a trough multiple relative to their AI‑driven growth prospects, leaving meaningful room for re‑rating as earnings from optoelectronics and GaN accelerate.
In another report released on January 30, J.P. Morgan also maintained a Buy rating on the stock with a €25.20 price target.