Goldman Sachs shares set Neutral on VAT Group, sees 3% upside

EditorNatashya Angelica
Published 20/12/2024, 01:54 am

On Thursday, Goldman Sachs (NYSE:GS) initiated coverage on shares of VAT Group AG (SIX:VACN:SW), a leading Swiss manufacturer of high-performance vacuum valves. The firm set a Neutral rating with a 12-month price target of CHF 363, suggesting a modest 3% potential upside from current levels. VAT Group, known for its significant market presence, commands approximately a 60% market share across its various end markets.

VAT Group's primary focus is on the semiconductor industry, which accounts for about 60% of its 2023 revenues. The company also caters to high-end display panel, solar photovoltaic, and general industrial end markets. With around 2,700 employees, VAT Group operates three main production facilities.

For the year 2024, Goldman Sachs forecasts that VAT Group will generate net sales of CHF 956 million and achieve an adjusted EBITDA margin of 30.7%. The Neutral rating reflects the firm's expectations and market positioning of the company.

The price target set by Goldman Sachs is based on the company's current performance and market conditions. VAT Group's dominance in its sector, along with its robust market share, positions it as a significant player in the market, especially within the semiconductor space.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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