Technoprobe made a flying debut on the FTSE MIB. On its first day on the main trading table of Piazza Affari, where it took the place of Diasorin, the stock gains 4,4% at 30,76 euros per share, taking it to the top of the list. Supporting the shares, in addition to the frenzy of the debut, is also a report by Banca Akros which focuses mainly on the future investments in the pipeline of the company and confirms the Buy rating on the stock with a target price of 40 euros.
Technoprobe, listed in February 2022 on Euronext Growth Milan and transferred to Euronext Milan in May 2023, has a capitalization of 20 billion euros. His actions have more than doubled their value since the beginning of the year, supported by strong interest in companies linked to the artificial intelligence boom. Its entry will increase the weight of the tech sector in the index, which was just 4% thanks to Stmicroelectronics (+3,8%).
The judgment of Banca Akros
Last week, Banca Akros hosted Technoprobe for a series of meetings with investors as part of a corporate roadshow in Switzerland. Experts emphasize that the 350 million investment plan The €1,6 billion investment, aimed at improving efficiency and expanding production capacity through the new plant, "is progressing according to plan and is expected to be completed by the end of the first quarter of 2027," with a projected production capacity of approximately €1.6 billion following the expansion. The meetings, they explain, revealed that management continues to believe that demand is growing faster than available production capacity; "the main risk is therefore that of not being able to fully exploit the imbalance between supply and demand, without prejudice to the possible emergence of excess capacity in the future. The company is currently working on a further investment plan (the size of which has not yet been disclosed) to meet expected demand in the coming years."
AI main driver of growth
And theArtificial intelligence, according to the experts, "the main driver of growth and is expected to represent approximately 50% of revenues in 2026.” Specifically, Technoprobe’s decision to expand its strategic offering by entering the market for high-capacity HBM (High Bandwidth Memory), essential components for modern AI accelerators, appears to be rewarding. “A contribution of approximately €10-15 million has been confirmed in FY26, while there is currently no significant visibility into 2027,” the brokers write, while “SiPho currently has no impact on revenue, but is expected to become more relevant in 2028/29, when new architectures developed by customers could become available for industrial-scale production.”
On the acquisition front, the company remains focused on increasing production capacity, given the current market momentum.”'Subsequently, it could evaluate bolt-on M&A transactions, with the aim of improving production processes or accelerating technological development, as an alternative to internal financing of R&D laboratories”.
