Analyst Juergen Wagner of Stifel Nicolaus reiterated a Buy rating on COMET Holding AG (COTN – Research Report), retaining the price target of CHF320.00.
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Juergen Wagner’s rating is based on several factors that suggest a positive outlook for COMET Holding AG. Despite the cautious guidance expected for 2025 due to challenging memory markets, there are signs that these markets are stabilizing, which could indicate a potential recovery in the company’s share price. The anticipated improvement in memory fundamentals, along with market share gains from products like CA 20 and Synertia, are expected to act as catalysts for growth in the latter half of 2025.
Furthermore, COMET’s short product lead times mean that the company can quickly capitalize on any uptick in demand. The positive commentary from key customers, such as Lam Research, regarding technology upgrades and the gradual improvement in NAND spending, supports the expectation of accelerated sales growth into the second half of 2025 and beyond. Additionally, COMET’s entry into the advanced packaging markets with its new 3D inspection tool presents a new growth opportunity, potentially enhancing valuation multiples. These factors contribute to Wagner’s Buy rating, with a price target reflecting historical trading averages.