Qnity Electronics, Inc: 1Q26 Results: Stacked Quarter

研报英文原文证据摘录

Qnity Electronics, Inc: 1Q26 Results: Stacked Quarter

Deutsche Bank

Research

Rating Company Date

Buy Qnity Electronics, 12 May 2026

Forecast Change

North America Inc

United States

Reuters Bloomberg Exchange Ticker Price at 11 May 2026 (USD) 153.24

Q.N Q US NYS Q

Price target 180.00

TMT

52-week range 153.24 - 40.00

Semiconductors

1Q26 Results: Stacked Quarter

Valuation & Risks

Melissa Weathers

Qnity delivered a refreshingly solid quarter, raising its full-year growth outlook to

Research Analyst

+11% (from +7% y/y prior) with ample room to go higher, in our view. Qnity is +1-212-250-2134

emerging as one of the key beneficiaries of the broader industry shift from “shrink

to stack”, with the verticality of chip and packaging designs becoming evermore Apoorva Kumar

Research Associate

important in the AI era. In particular, we found the company's tone on the

+1-212-250-9286

Interconnect Solutions (ICS) business to be notably strong, with management

guiding for growth to continue outpacing the semis business this year driven by Ross Seymore

advanced packaging, thermal management, and AI PCBs (albeit note that semi Research Analyst

growth should still be strong, with mature node fab utilizations improving). All told, +1-415-617-3268

we found this to be a strong second print for Qnity as a standalone company, with David Begleiter

fundamentals seeming to strengthen, execution remaining solid, and an achievable Research Analyst

bar set for 2026 (DB ests now stand slightly above the company’s updated +1-212-250-5473

guidance). On higher estimates, we raise our P/T to $180, and reiterate our Buy

rating. For a deeper dive on the company, refer to our initiation. Key changes

170.00 to

TP ↑ 5.9%

180.00

Positives outweigh negatives

EPS (USD) 3.88 to 4.31 ↑ 11.3%