Comet Holding AG shares jumped 10.0% to CHF 384 in today’s trading session following a sizable re-rating from BofA Securities. The brokerage moved its recommendation from Underperform to Buy and raised its price target to CHF 518 from CHF 286, attributing the change to stronger-than-expected greenfield activity in the NAND memory segment and visibility that extends into next year and beyond.
At the center of BofA’s bullish outlook is Comet’s Plasma Control Technologies (PCT) division. The analyst note highlighted PCT’s role as a supplier of RF generators and impedance matching networks that are essential to chip fabrication processes. BofA responded by increasing its revenue estimates for fiscal years 2026 through 2028 by 7–18%, with the upward revisions weighted toward PCT. The firm characterized Comet as an appealing way to gain exposure to the semiconductor memory buildout, noting the company’s potential for meaningful operating leverage.
The stock opened the session at CHF 376 and reached an intraday high of CHF 387.8, reflecting broad buying interest prompted by the research note. The upgrade appears to have been a predominantly company-specific catalyst: U.S. markets were mixed during the same period, with the S&P 500 down 0.3% and the NASDAQ up 0.2%.
In Switzerland, the broader market backdrop was constructive. The SMI traded near the 14,300 level and remained inside the bull market it entered in early 2025. Market conditions in Switzerland therefore provided a supportive context, but the scale and timing of Comet’s move point to the high-conviction institutional re-rating as the primary driver.
Comet’s share price has been on a recovery path from a 52-week low of CHF 167, and today’s upgrade represents a shift from a very bearish stance to a strongly bullish one by a single influential broker. Investors now have an upcoming earnings date to focus on: Comet’s next results are scheduled for July 31, and today’s note sets a relatively optimistic tone ahead of that report.
Market data snapshot
- Intraday move: +10.0% to CHF 384
- Session range: opened CHF 376, high CHF 387.8
- BofA action: rating raised from Underperform to Buy; price target lifted to CHF 518 from CHF 286
- Analyst rationale: increased NAND greenfield activity and raised FY26-28 revenue estimates by 7–18%, led by PCT
- Next company event: earnings release on July 31