Added to YB: 2026-04-20
Pitch date: 2026-02-15
CICN.SW [bullish]
Cicor Technologies Ltd.
-6.32%
current return
Author Info
No bio for this author
Company Info
Cicor Technologies Ltd., together with its subsidiaries, develops, and manufactures electronic components, devices, and systems internationally.
Market Cap
CHF 603.7M
Pitch Price
CHF 152.00
Price Target
344.00 (+143%)
Dividend
N/A
EV/EBITDA
11.98
P/E
36.78
EV/Sales
1.09
Sector
Electronic Equipment, Instruments and Components
Category
value
Cicor Technologies Ltd. - $CICN.SW
CICN.SW: European HMLV EMS provider w/ proven M&A track record since 2021. Stock -33% from ATH after TT Electronics deal failed. Mgmt targets CHF 975M rev, 10-13% EBITDA margin by 2028 (vs CHF 719M in 2025). Mid-teen ROICs on acquisitions; Eolane turnaround adds €10-15M EBITDA by 2027. A&D now 28% of sales (up from 10% in 2021), positioned for 16% annual NATO spending growth. Trades 11x EV/EBITDA vs peers at 13-18x. Conservative scenario: CHF 228 by 2028 (14% CAGR); base case w/ CHF 225M M&A spend: CHF 286 (23% IRR). Risks: OEP (41% owner) distribution, integration missteps, competition.
Read full article (12 min)