Balanced Outlook for VAT Group AG: Hold Rating Amid Market Expectation Adjustments and Stabilizing DRAM Prices

Juergen Wagner, an analyst from Stifel Nicolaus, maintained the Hold rating on VAT Group AG (VTTGF – Research Report). The associated price target is CHF325.00.

Juergen Wagner has given his Hold rating due to a combination of factors influencing VAT Group AG’s stock performance. The company anticipates “solid” growth in 2025, but the market’s consensus expectations are notably higher, projecting a 23% year-over-year sales increase. This discrepancy suggests that the market may need to adjust its expectations downward, particularly at the EPS level, following the company’s recent announcements.
Additionally, while the DRAM spot prices appear to be stabilizing, which could potentially boost the share price, the valuation premium relative to key customers has decreased after the shares were de-rated. The company’s guidance for Q1 2025 sales aligns closely with consensus estimates, but the cautious outlook and high market expectations contribute to maintaining the Hold rating. Overall, the combination of these factors suggests a balanced view, warranting a Hold recommendation.

According to TipRanks, Wagner is an analyst with an average return of -14.9% and a 29.73% success rate.

In another report released on February 17, UBS also maintained a Hold rating on the stock with a CHF350.00 price target.