Goldman Sachs upgraded Atlas Copco AB to Buy from Neutral. The bank increased its 12-month price target for the stock to SEK 229 from SEK 187.
The upgrade follows strong second-quarter results and an improving capital expenditure cycle. Goldman Sachs expects the company to benefit from rising semiconductor industry spending, which currently accounts for 16% of total sales.
Analysts raised adjusted EBIT estimates for 2026-2028 by 5% to 19%. This adjustment follows second-quarter orders and earnings that exceeded bank expectations.
The firm projects Atlas Copco’s growth will accelerate to a 13% compound annual growth rate over the next three years.