Bank of America cuts target for Besi stock from EUR 401 to EUR 212

Published on 10/07/2026 at 09:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Besi stock costs EUR 183.68 on October 7, 2026, versus EUR 192.13. Revenue rose 68.70 percent to EUR 249.90 million in the second quarter of 2026.

Editorialfoto eines Handelssaals mit großen Bildschirmen und Elektronik-Aktiencharts — Signify N.V. mit ISIN NL0012866412 im Börsen-Editorial vor einem Handelssaal mit steigenden Elektronik-Sektor-Charts in Amsterdam, Illustration mit AI erstellt.

Besi (NL0012866412) was trading at EUR 183.68 at Lang & Schwarz on October 7, 2026, down 4.40 percent versus the prior close of EUR 192.13. According to ING Markets on October 6, 2026, Bank of America cut its target for Besi from EUR 401 to EUR 212 and lowered its rating from Buy to Neutral. The change places competition and adoption timing at the center of the valuation debate.

BofA cuts target from EUR 401

Bank of America analyst Didier Scemama cited slower hybrid-bonding adoption in high-bandwidth memory and the possibility that ASML could enter the market, according to ING Markets. The report also lowered Bank of America's 2028 revenue and earnings-per-share estimates for Besi as the bank assessed risk in the cyclical flip-chip market.

For investors, the key issue is the conversion of technology interest into repeat production orders. ASML's potential entry adds a competitive variable, while higher research and development spending could pressure Besi's margin if the company responds aggressively.

Second-quarter growth stays tangible

Besi generated EUR 249.90 million of revenue in the second quarter of 2026, up 68.70 percent from the same period a year earlier, according to DeBelegger. New orders reached EUR 292.90 million, an increase of 128.80 percent year over year, while net income rose to EUR 89.00 million, up 177.30 percent.

The order figure exceeded quarterly revenue by EUR 43.00 million, giving Besi a book-to-bill ratio of 1.17 in the quarter. That comparison supports the growth case, but orders still have to become delivered equipment and recognized revenue.

Results date adds a near-term test

The next scheduled reporting point is October 22, 2026, when Besi is listed to report third-quarter results by Marketscreener. Management's third-quarter outlook, including revenue growth of 10.00 percent to 15.00 percent and a gross margin of 63.00 percent to 65.00 percent, will show whether the order surge is translating into profitable delivery.

Finance quote data put Besi's market capitalization at EUR 14.7 billion and its 52-week range at EUR 120.15 to EUR 328.40 on October 7, 2026. The wide range underlines how quickly valuation can change when investors revise expectations for hybrid bonding.

The stock trades at EUR 183.68

Besi was trading at EUR 183.68 at Lang & Schwarz on October 7, 2026 at 9:32 a.m. CEST, down 4.40 percent versus the Lang & Schwarz prior close of EUR 192.13 on October 6, 2026. The further course of trading is shown by the continuously updated real-time quote of Besi stock.