BE Semiconductor Hits Record High as BofA Says Market is Underestimating Demand

BE Semiconductor Industries NV shares scaled new highs on Tuesday as Bank America Corp. analysts raised their price target to a level above all others, saying strong demand for the Dutch firm’s products is underestimated.

Shares of the semiconductor equipment maker rose as much as 5.9% after analysts led by Didier Scemama hiked their price target to €279, the highest among analysts tracked by Bloomberg. They expect the firm’s second-quarter sales outlook to come in ‘well above’ expectations.