Shares of industrial conglomerate OC Oerlikon closed at 5.61 Swiss francs on Monday and rose a further 5.5% on Tuesday, lifting the stock to its highest level since March 2023 and doubling its value year on year.
The rally followed a capital markets day held two weeks ago, during which Oerlikon announced it aims to generate revenue exceeding 2 billion francs by 2030. The company reported 2025 revenue of 1.57 billion francs with an EBITDA margin of 17.3%.
Under the 2030 targets, Oerlikon expects organic growth of around 6% at constant exchange rates and an EBITDA margin rising above 20%. Return on capital employed should exceed 10%, the company said.
Management identified aerospace, semiconductors, power generation, defense and electrification as structural growth drivers. Oerlikon operates 110 coating sites worldwide, employs roughly 10,000 people across 38 countries, and is active in surface solutions and chemical fiber machinery through its Oerlikon Balzers and Oerlikon Metco divisions.
A Kepler Cheuvreux analyst said the capital markets day indicated the company has moved beyond its transformation phase. The growth target sits at the upper end of previous ranges and above the five-year average, while structurally expanding markets in aerospace, semiconductors, electrification and defense should provide additional upside, the analyst said.
Kepler Cheuvreux raised its price target to 6.40 francs from 5.50 francs and upgraded its recommendation to "Buy" from "Hold." The stock's ability to sustain the current trend will be tested when Oerlikon releases a trading update at the end of October covering third-quarter figures.
