BE Semiconductor stock rebounds 2.5% despite JP Morgan's downgrade
The Dutch semiconductor assembly equipment manufacturer gains some ground during the session, while the Paris Stock Exchange posts a sharp decline. A brokerage firm has just significantly lowered its price target on the stock, and quarterly results publication is approaching.
A limited rebound facing moving averages still far away
The BE Semiconductor stock gains 2.7% to €159.75 during the session, after a week down 11% and a quarter down 29.2%. The rebound barely mitigates these losses: the stock remains 13.1% below its 20-day moving average and 25.6% below its 200-day moving average, which illustrates the extent of the decline since the spring peaks. The RSI at 28.93 signals an oversold configuration, in a context of recent stock declines.
The support level at €155.55, which corresponds to the previous close, stands less than 3% below the current price. At the same time, the CAC 40 falls 1.36% and the SBF 120 falls 1.33%.
JP Morgan lowers its target to €275, with October 22 publication in sight
According to analyst opinions, JP Morgan today lowers its price target from €342 to €275, while maintaining its overweight opinion. This new target remains more than 70% above the current price. It comes after several downward revisions in recent weeks, including that of BofA in early October.
According to the consensus of analysts surveyed, the stock is trading at approximately 36 times current fiscal year earnings and 24 times the following fiscal year earnings. The company will publish its third quarter 2026 results on October 22.
