SB1 Markets maintains a Neutral rating on pattern generator company Mycronic and cuts its price target to SEK 325 from SEK 350, despite a strong third-quarter report, according to an analysis.
EBIT amounted to SEK 610 million, 45.8 percent above consensus, mainly driven by Global Technologies. However, the bank believes that the business area’s high margin is not sustainable.
Mycronic raised its revenue forecast for 2026 to SEK 9.75 billion. SB1 raises its EBIT forecasts but is still 16 percent below consensus for 2027. The bank expects an interim year for Pattern Generators, where the timing of the expected orders for Prexision 8000 machines is weighing on earnings. Therefore, the analysts see a risk that the market’s earnings forecasts will need to be lowered
The lower price target reflects lower valuations for comparable companies.
