Stifel starts Jenoptik at 'buy' on AI-driven growth prospects

By Reuters News

** Stifel initiates coverage of Jenoptik with a "buy" rating and PT of €55, citing growth opportunities from AI infrastructure investment

** Broker says the German optical technology specialist is well positioned to benefit from AI infrastructure investment through its photonics business and exposure to semiconductor equipment makers

** Stifel says its earnings growth forecasts reflect accelerating growth in key markets, margin expansion and a recovery in less strategic activities

** It forecasts adjusted EPS growth of about 23% annually through 2030

** The broker says recent share gains are justified but sees further upside as earnings and returns improve over the coming years

** Jenoptik shares are up about 107% YTD, which the broker says are "fully deserved" while still offering "compelling upside potential"​

** Out of 14 analysts that cover Jenoptik , nine rate the stock "strong buy" or "buy" and ​two rate "hold" - LSEG data

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