The American bank Bank of America has drastically raised the target price of Technoprobe, a Lombardy-based semiconductor company controlled by the Crippa family, bringing it to 38 euros per share from the previous 16.4 euros. The institution also upgraded its rating on the company’s stock from neutral to buy, which today has risen to 28.3 euros.
THE REASON FOR BANK OF AMERICA’S REVISION
The revision comes after the quarterly results and especially after the forecast update communicated by Technoprobe, which is controlled 65.1 percent by T-Plus (the Crippa family holding) and which is specialized in the production of high-end probe cards. Probe cards are devices used to test the functionality of chips during the manufacturing process, before final assembly.
In light of the latest results and the new guidance, Bank of America has revised upward by 40-48 percent the revenue forecasts for Technoprobe in the years 2026-2028 and the margins, raising EBITDA estimates by 70-78 percent as well.
Moreover, the bank expects that the share of Technoprobe’s revenues linked to artificial intelligence – whose progress is based on processors: hence the crucial role of probe cards – will reach 70 percent by 2028. This is the highest value among the companies under its coverage, wrote Teleborsa.
TECHNOPROBE’S RESULTS IN THE FIRST QUARTER OF 2026
In the first quarter of 2026, Technoprobe recorded revenues of 187 million euros, 19 percent higher year-on-year, thanks to demand from the artificial intelligence industry. EBITDA grew by over 44 percent, exceeding 69 million. The net financial position is positive at 660.5 million.
FORECASTS FOR 2026
Given these record numbers, the company has brought forward the targets set for 2027 to the current year and also expects to exceed them: for the current fiscal year, Technoprobe aims for revenues between 950 million and 1 billion euros, with an EBITDA margin of 44-46 percent.
For the second half of 2026, estimated revenues are 266 million, with an EBITDA margin of 45 percent.
BANK OF AMERICA’S ONLY RESERVATION: PRODUCTION CAPACITY
“Although production capacity is currently being increased to reach a turnover of 1 billion euros in fiscal 2026, we believe that if demand were to increase in Technoprobe’s emerging markets, production capacity could again become a limit to revenue growth,” reads a note from Bank of America.
According to the bank, Technoprobe’s current production capacity should be sufficient to generate 1.4 billion euros in revenue by the end of 2028: “therefore, further plant expansions may be necessary to meet future customer demand.”
On this point, CEO Stefano Felici recently stated that “the availability of production capacity is an extremely critical factor in meeting demand,” and that “production efficiency activities are proceeding at a significantly higher speed and efficiency than expected at the beginning of the year.”
