JPMorgan cuts target for Besi stock from EUR 342 to EUR 275

Published on 10/19/2026 at 09:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan cuts Besi target from EUR 342 to EUR 275. Besi stock trades at EUR 158.10 on October 19, 2026, against the new target.

Analyst concern meets earnings date

JPMorgan cut its Besi target from EUR 342 to EUR 275 on October 19, 2026.
First-half 2026 revenue reached EUR 434.7 million and bookings EUR 562.6 million.
Besi stock traded at EUR 158.10 at 9:35 a.m. CEST at Lang & Schwarz on October 19, 2026.
Besi will release third-quarter 2026 results on October 22, 2026.

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Besi (ISIN NL0012866412) was trading at EUR 158.10 at Lang & Schwarz on October 19, 2026 at 9:35 a.m. CEST, while JPMorgan Research cut its price target from EUR 342 to EUR 275. The bank kept its Overweight rating, according to Deaandeelhouder on October 19, 2026.

Why JPMorgan cut its target

JPMorgan linked the reduction to a likely delay in hybrid bonding adoption. The bank still expects Besi's near-term order intake to remain strong, supported by demand for optical components and power equipment linked to artificial intelligence, the report said.

The new EUR 275 target is 73.94 percent above the Lang & Schwarz price of EUR 158.10. JPMorgan expects Besi to exceed consensus order intake and to repeat its expectation for very strong revenue growth in 2026, according to Deaandeelhouder.

What does the target cut mean for growth?

The valuation debate is arriving alongside a strong first-half operating comparison. Besi reported first-half 2026 revenue of EUR 434.7 million versus EUR 292.1 million a year earlier, while bookings rose to EUR 562.6 million from EUR 259.9 million, according to Troy Technical. Net income increased to EUR 140.6 million from EUR 63.6 million over the same period.

Three dates frame the story

On July 23, 2026, Besi reported second-quarter revenue of EUR 249.9 million and net income of EUR 89.0 million. On October 8, 2026, the company disclosed a repurchase of 1,351 shares at a weighted average price of EUR 177.53, according to Besi. On October 19, 2026, JPMorgan reduced its target to EUR 275 while keeping its Overweight rating.

Results arrive October 22

Besi will release results for the third quarter ended September 30, 2026, on October 22, 2026, at 7:00 a.m. CET and will host its conference call at 4:00 p.m. CET, according to Besi. The figures will show whether strong bookings are converting into revenue while hybrid bonding adoption faces a longer timetable.

Stock price and next catalyst

Besi's immediate market test is the third-quarter report, with the new target leaving a wide gap above the current euro quotation. The company is listed on Euronext Amsterdam under BESI and supplies semiconductor assembly equipment for electronics and industrial customers.

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