BE Semiconductor Industries Upgraded to Buy as Berenberg Notes 'Opportunity' Amid Recent Share Weakness

05:58 AM EDT, 08/04/2026 (MT Newswires) -- Berenberg upgraded BE Semiconductor Industries (BESI.AS) to buy from hold, as analysts noted an "opportunity" arising from the recent drop in the company's share price. "When we published our Optically expensive report on 9 June 2026, Besi's shares were up by 146% over the prior year, driven by AI-related demand despite weakness in the company's traditional mainstream end-markets that had left us reluctant to change our Hold recommendation. Shares have weakened since, down by 37% since 22 June and by 28% since we published the aforementioned note, at the same time as Besi's traditional mainstream end-markets are recovering and AI-related demand remains strong," the research firm said Tuesday. The stock's price target was maintained at 240 euros, which Berenberg said now implies a 19% upside. "The attractive characteristics of Besi's business are reflected in its premium valuation (2026 multiples of 43x P/E and 34x EV/EBITDA)," analysts said, adding that it expects EBIT margin to expand to 50% in 2028 from 29% in 2025 following the company's strong revenue growth and high gross margins. Berenberg also lifted its EBIT and EPS projections for 2026 through 2028. Sales forecasts were left unchanged across the three-year period.