Deutsche Bank raises AT&S stock target to EUR 380.00

Published on 10/20/2026 at 11:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AT&S reported EUR 548.70 million revenue for the June 30, 2026 quarter. AT&S stock costs EUR 163.70 on October 20, 2026 versus a EUR 380.00 target.

Financing and growth milestones

Deutsche Bank raised its target to EUR 380.00 from EUR 320.00 on October 8, 2026.
AT&S reported EUR 548.70 million revenue for the quarter ended June 30, 2026.
AT&S stock trades at EUR 163.70 at 11:12 a.m. CEST at Lang & Schwarz on October 20, 2026.

At&S, AT0000969985, Illustration mit AI erstellt.

AT&S (AT0000969985) was trading at EUR 163.70 at Lang & Schwarz on October 20, 2026 at 11:12 a.m. CEST. Investing.com reported on October 16, 2026 that Deutsche Bank raised its AT&S target to EUR 380.00 from EUR 320.00.

Bond redemption cuts financing costs

AT&S will redeem its outstanding 2022 hybrid bond for EUR 350.00 million on October 22, 2026, the first available call date. According to the company release dated October 8, 2026, the refinancing follows the placement of a 2026 hybrid convertible bond and is intended to reduce recurring financing costs. AT&S said the repayment will be funded from existing liquidity.

What does the target imply?

The new Deutsche Bank target is EUR 216.30 above the Lang & Schwarz price, a gap of 132.17 percent based on EUR 163.70. The spread across published targets remains wide: Borse Express listed a EUR 100.00 to EUR 380.00 range on October 16, 2026, with a median target of EUR 215.50 from four analyst houses. That range puts execution at the center of the valuation debate.

Three steps in the expansion

On June 30, 2026, AT&S reported quarterly revenue of EUR 548.70 million, above the EUR 527.65 million estimate cited by TickerLandia. On September 22, 2026, AT&S expanded its Marvell collaboration for advanced substrates linked to its Kulim investment program, with planned 2026/27 capital expenditure of EUR 1.00 billion to EUR 1.20 billion. On October 8, 2026, the company announced the EUR 350.00 million hybrid-bond redemption.

Next dates for AT&S

The bond redemption is scheduled for October 22, 2026. TickerLandia lists November 5, 2026 as the next quarterly results date. The company describes its business as high-end IC substrates and printed circuit boards for digital industries, including artificial intelligence applications, on its investor page.

Stock trades below target

The immediate investor test is whether the planned refinancing lowers financing costs while the Malaysia expansion converts customer commitments into reported revenue. AT&S stock was trading at EUR 163.70 at Lang & Schwarz on October 20, 2026 at 11:12 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of AT&S stock.