UBS has lowered its price target for VAT Group AG to CHF350 from CHF370, maintaining a Neutral stance due to a lack of near-term recovery in semiconductor capital expenditures. The firm notes flat or declining memory chip prices and anticipates no significant profit improvement in H1 2025, with a potential market recovery not expected before summer 2025. This cautious outlook reflects broader challenges in the semiconductor industry, impacting VAT Group's financial performance.