RE: Target raised!23 Jun 2026 16:08
Berenberg Bank is the primary institutional Broker covering Filtronic PLC (LON: FTC), and they significantly upgraded their target price for the stock to 440p (from 360p) on June 23, 2026, while maintaining a "Buy" rating.
This upgrade was driven by robust performance metrics and expanding space infrastructure footprint. Filtronic's FY2026 trading update revealed adjusted EBITDA of at least £11.1m (ahead of consensus) and revenues of at least £55.5m.
The upgrade coincided with a new $0.5 million (£0.4m) satellite technology development contract with an unnamed US-based customer, demonstrating traction beyond their primary SpaceX contracts.
Berenberg analysts noted that the company is successfully converting on its space market opportunity, highlighted by record order book coverage and reduced reliance on any single client. END