Oops, something went wrong
Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Renishaw's industrial recovery is starting to look less like a rebound and more like a proper upcycle, with demand from semiconductor equipment, electronics manufacturing and aerospace customers accelerating sharply.
Bank of America responded by double-upgrading the shares to Buy and almost doubling its price target, giving investors another reason to chase the stock higher.
Renishaw shares rose more than 5% after Bank of America upgraded the precision-engineering group from Underperform to Buy and lifted its price target to 5,400p from 2,779p. The broker argued that the current demand cycle is proving considerably stronger than it had previously expected, particularly across semiconductor and electronics manufacturing equipment and aerospace and defense.
