UBS cut Besi target from EUR 370 to EUR 159 for Besi stock

Published on 10/13/2026 at 10:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

At EUR 173.28 on October 13, 2026, Besi stock sits 47.24 percent below its EUR 328.40 high. Results are due October 22, 2026.

UBS cut its Besi price target from EUR 370 to EUR 159 on October 7, 2026, citing hybrid-bonding adoption risks.
Besi reported first-half 2026 revenue of EUR 434.7 million, up 48.80 percent year over year.
The Lang & Schwarz quote was EUR 173.28 on October 13, 2026, while the 52-week high was EUR 328.40.
Besi's third-quarter results are scheduled for October 22, 2026.

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Besi (ISIN NL0012866412) was trading at EUR 173.28 at Lang & Schwarz on October 13, 2026 at 10:32 a.m. CEST, while its 52-week high stood at EUR 328.40. Investing.com reported on October 7, 2026 that UBS had cut its Besi target from EUR 370 to EUR 159 and downgraded the stock from Buy to Sell.

Three dated warning signals

On October 6, 2026, Bank of America cut its rating from Buy to Neutral and reduced its target to EUR 212, according to Investing.com.

On October 7, 2026, UBS moved from Buy to Sell and cut its target from EUR 370 to EUR 159, while the Lang & Schwarz quote reached EUR 173.28 on October 13, 2026.

The October 6 target of EUR 212 and the October 7 target of EUR 159 frame a sharp split in expectations around Besi's hybrid-bonding opportunity.

First-half figures turned higher

Troy Technical reported that Besi's first-half 2026 revenue reached EUR 434.7 million, up 48.80 percent from EUR 292.1 million in the first half of 2025. First-half bookings rose 116.50 percent to EUR 562.6 million, while net income increased 121.10 percent to EUR 140.6 million.

The second quarter of 2026 supplied most of that acceleration, with revenue of EUR 249.9 million and net income of EUR 89.0 million. The contrast matters for investors because the analyst debate centers on the timing of hybrid-bonding adoption, not on a lack of recent operating growth.

What hybrid-bonding risk means

UBS estimated hybrid-bonding revenue of EUR 424 million for 2030, compared with EUR 936 million implied by market expectations, according to Investing.com. The gap of EUR 512 million explains why a strong first-half revenue trend has not settled the valuation argument.

At EUR 173.28, UBS's EUR 159 target lies 8.25 percent below the Lang & Schwarz quote. The opposing EUR 212 Bank of America target lies 22.35 percent above it, leaving the market to weigh near-term execution against a slower technology adoption curve.

Next reporting date

The next dated company event is Besi's third-quarter results on October 22, 2026, listed by Investing.com as a pre-market release. The report will put the EUR 270.56 million consensus revenue forecast and EUR 1.23 consensus earnings-per-share forecast against the adoption concerns.

Stock remains below its yearly high

Besi's EUR 173.28 quote at Lang & Schwarz on October 13, 2026 was 47.24 percent below the EUR 328.40 52-week high, giving the analyst disagreement a clear valuation backdrop. The further course of trading is shown by the continuously updated real-time quote of Besi stock.