Berenberg cuts target for VAT Group stock to CHF 660

Published on 10/29/2026 at 13:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q3 revenue reached CHF 376 million, up 46 percent year over year. VAT Group stock was EUR 646.20 on October 29, 2026 with Q4 sales guided at CHF 420 million to CHF 450 million.

Three figures shape the setup

VAT Group reported CHF 697 million of third-quarter order intake on October 15, 2026.
The order backlog reached CHF 980 million in the third quarter of 2026.
The next full-year results release is scheduled for March 1, 2027.

VAT Group, CH0311864901, Illustration mit AI erstellt.

VAT Group's Berenberg target was cut to CHF 660 from CHF 695 on October 26, 2026, despite record demand, according to Finimize. The lower valuation mark puts execution and the conversion of orders into sales at the center of the VAT Group story.

Target cut meets record demand

VAT Group said on October 15, 2026, that third-quarter order intake reached CHF 697 million, while backlog climbed to CHF 980 million. The company also said the quarter delivered its highest quarterly order intake and sales, as semiconductor demand continued to support its vacuum-valve business, according to VAT Group.

Third-quarter revenue reached CHF 376 million, a 46 percent increase from the same period of 2025. Orders tripled year over year, and the order backlog rose 280 percent from a year earlier, according to Investing.com. That combination gives the company visibility, but it also raises the bar for factory expansion and delivery execution.

What supports the next step?

For the fourth quarter of 2026, VAT Group guided sales to CHF 420 million to CHF 450 million and order intake to CHF 500 million to CHF 600 million. Management expects factory output to reach a quarterly run rate of CHF 450 million by the end of 2026, while Malaysia 1B is scheduled to come online in the first quarter of 2027.

The next reporting date

The next scheduled reporting event is the full-year 2026 results release on March 1, 2027. The nearer issue is execution: Berenberg's target reduction from CHF 695 to CHF 660 reflects a higher valuation risk adjustment even as the order book remains unusually strong.

Stock quote and investor view

VAT Group was trading at EUR 646.20 at Lang & Schwarz on October 29, 2026 at 1:00 p.m. CEST. The current quotation leaves the market weighing record demand against the operational demands of expanding capacity and protecting margins.

The further course of trading is shown by the continuously updated real-time quote of VAT Group stock.