CES 2026 recap: Morgan Stanley flags ’skyrocketing’ AI demand
Futures flat, CES 2026 takes central stage- what’s moving markets
This AI-picked telecom is up a whopping +77% in January’s first two sessions
Bitcoin price today: steady at $93.6k, Strategy discloses Q4 loss
Investing.com --UBSdowngradedBucher Industries (SIX:BUCN)to “neutral” from “buy” rating, citing limited near-term growth prospects and constrained upside.
Shares of the Swiss company were down 4.9% to at 07:06 ET (12:06 GMT).
The brokerage lowered its 12-month price target to CHF380 from CHF395, according to a research note dated Jan. 6, 2026.
UBS said the downgrade reflects expectations for only moderate sales growth amid a subdued industrial production environment and limited European farm spending.
The brokerage forecasts organic sales growth of 2.5% in FY26E, following a decline in FY25E. Revenues are projected at CHF2.87 billion in FY26E, compared with CHF2.85 billion in FY25E.
Profitability is expected to remain constrained. UBS estimates an adjusted EBIT margin of 7.9% in FY26E and an average margin of about 8.2% over FY26E-FY29E, compared with a historical average of 9.1% between FY14 and FY24. Adjusted EBIT is forecast at CHF229 million in FY26E, up slightly from CHF227 million in FY25E.
UBS pointed to muted demand across Bucher’s key end markets. Agricultural equipment demand indicators in Europe remain close to neutral, while U.S. farm investment surveys show limited momentum.
The Hydraulics division is expected to be affected by restrained global industrial production growth, and the Emhart Glass division faces weak customer capital expenditure, with UBS noting no near-term pickup in capex forecasts for major glass manufacturers.
The brokerage said the current valuation already reflects the weaker outlook. Based on UBS estimates, Bucher trades at an EV/EBIT multiple of about 14.9x for FY26E, implying a discount of roughly 22% to Swiss industrial peers, broadly in line with the company’s long-term average.
UBS added that a reverse discounted cash flow analysis indicates the current share price reflects sales growth of around 2% and an average EBIT margin near 8% over FY25E-FY29E.
Bucher shares were priced at CHF367.50 on Jan. 5, 2026, close to the revised price target, leading UBS to conclude that upside and downside risks are balanced at current levels.
