U.K. Industrial Stocks to Gain as AI Demand Boosts Chip Market
Dow Jones
3 hours ago
0815 GMT - A strong semiconductor market will be a boon to U.K. industrial stocks like Renishaw and XP Power, as AI-related demand continues to boost chip makers, Jefferies analysts say in a research note. Both Renishaw and XP Power are likely to upgrade their expectations, with semiconductor strength supporting a wider revenue recovery, the analysts say. Jefferies raises its recommendations on both stocks to buy from hold, and lifts its recommendation on peer Halma to hold from underperform. Halma's Avo Photonics business, which has benefited from AI demand in recent years, disappointed the market at the company's last update, the analysts say. XP Power shares jump 9.3%, while Renishaw's climb 3.4% and Halma's are up 0.7%.
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