Berenberg Raises Estimates, Price Target for Technoprobe After 'Remarkable' H1

Berenberg revised its estimates and price target for Technoprobe (TPRO.MI) following a model update, with analysts noting the company's "remarkable" first-half performance. "The strength of the AI-driven demand has exceeded even the market's most optimistic prior expectations, prompting the company to target the achievement of its medium-term objectives by year-end - two years ahead of the timeline outlined at its April 2025 capital markets day. From here, we believe that the investment case will increasingly hinge on execution, especially if the company opts for another step-up in manufacturing capacity," according to a Tuesday note. Ahead of Technoprobe's interim earnings report on Aug. 5, Berenberg said it expects sales of 462 million for the first half, with 275 million euros in second-quarter sales alone, reflecting the upper end of the group's guidance. "In terms of profitability, we forecast EBITDA to come in at EUR198.6m, implying an EBITDA margin of 43% in H1 and of 47.1% in Q2. Going down the P&L, we expect EBIT and net profit to be cEUR161m and cEUR135m respectively," analysts added. Against this backdrop, the research firm upgraded its sales and EPS forecasts.