Filtronic - new Target Price of 232p for this unique group with its record Order Book, shares now 186p

Mark Watson-Mitchell
15 hours ago
2 min read

Mark Watson-Mitchell - 04.02.2026

Following yesterday's Interim Results statement from Filtronic (LON:FTC), the designer and manufacturer of products and sub-systems for the aerospace, defence, telecoms infrastructure, space and critical communications markets, its shares moved down to 176p on profit-taking, before hitting 188p and closing at 186p, up 3p on the day.

There was quite a significant trading in the group's shares, with some 3,237,278 shares dealt compared to the recent daily average of 1,492,318 traded.

The £402m-capitalised group revealed yesterday that it is currently working with four new businesses in relation to significant orders to add to its already record Order Book.

Importantly, using its own cash, the group has now added to its production facilities at its Sedgefield headquarters, which should boost its ability to handle ever more business.

The group recently added Berenberg as an additional broker.

In yesterday's coverage of the group, the new broker declared that:

"Unique Filtronic laying foundations for growth"

It noted that the transition at Filtronic is ongoing and is laying the foundation for the next phase of growth.

Analyst Jon Byrne has a Buy out on the stock, with a Target Price of 213p.

Byrne noted that earnings margins looked ‘slightly higher’ and it currently has a record order book.

Filtronic has also made progress in its new facilities with continued investment in specialised radio-frequency personnel.

"Overall, this is a positive statement that is consistent with management’s previous communications, with plenty of positive indicators of deepening and more customer relationships.

Full year 2026 remains a year of transition for Filtronic as it invests in and lays the platform for the next phase of growth.

Filtronic is a ‘unique stock’ offering investors ‘exposure to the booming space industry alongside an accelerating European defence market."

My View

The group's shares, now 186p, have been a magnificent performer since I first featured them four years ago at just 11.6p - and as far as I am concerned Filtronic's future is more than galactic.

I remain totally convinced that Filtronic is a potential 'winner' and that its shares are destined to rise substantially in reaction to further contract wins.

As such, I now set a new Target Price for the shares at 232p.