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Oct 24 2023, 16:30 IST/BST
Capital Goods
Leading edge
- Sectors : Capital Goods
- Companies : Xaar | XP Power | Spectris | Oxford Instruments
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| Oxford Instruments | OUTPERFORM | 24/10/23 | N/A | N/A | 1834p |
| Spectris | NEUTRAL | 24/10/23 | N/A | N/A | 2976p |
| Xaar | OUTPERFORM | 24/10/23 | N/A | N/A | 180p |
| XP Power | OUTPERFORM | 24/10/23 | N/A | N/A | 1010p |
DAVY VIEW
We initiate coverage on four companies in the Electronic & Electricals sector: Oxford Instruments, Spectris, Xaar and XP Power. All four companies offer market disrupting products and services across multiple global end markets, with a particular focus on life sciences and semiconductors. Each has strong structural growth drivers and unique technologies, employing self-help to improve margins. All benefit from the global reshoring theme, especially in North America. The next semiconductor cyclical upswing is in sight.
