BE Semiconductor upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded BE Semiconductor to Equal Weight from Underweight with a EUR 100 price target. With consensus estimates for the company moving down 5% since April, the firm’s estimates are now more in-line with market expectations. BE is also seen as an artificial intelligence play, which is a trend that will continue, the analyst tells investors in a research note. Barclays, however, sees limited benefit in 2024. The upgrade comes with a downgrade of the firm’s European semiconductor sector view to Neutral.