ASM International N.V : Besides the short-term weakness announced in Q1, multiple growth drivers will continue for several years (GAA, AI, SiC, etc.), target price raised to € 480
>Outperform rating reiterated following the road show, target price increased to € 480 (vs € 420) - On our return from a road show with ASMi in Canada we reiterate our Outperform rating. Our EPS estimates are unchanged, but we increase our target price (DCF and multiples) from € 420 to € 480 based on 1/ the idea of a greater likelihood of a market recovery in 2024, aided by a stabilisation of consumer markets (PC and smartphones), a recovery in memory and now the con...ASM International is an equipment supplier mainly to the semiconductor manufacturing industry. Co. designs, manufactures and sells equipment and services to its customers for the production of semiconductor devices, or integrated circuits. Co.'s front-end segment manufactures and sells equipment used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices. Co.'s back-end segment manufactures and sells equipment and materials used in assembly and packaging, encompassing the processes in which silicon wafers are separated into individual circuits and subsequently assembled, packaged and tested.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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