ASM International N.V : Feedback de roadshow : la fin de l’année se déroule comme prévu ; OC relevé à 95 € (vs 80 €)
>Opinion Achat maintenue et OC relevé à 95 € vs 80 € suite à un roadshow - Suite à une journée de roadshow à Francfort avec Victor Bareno (Head of IR), nous réitérons notre opinion Achat et relevons notre OC par DCF de 80 € à 95 €. Nous ne modifions pas nos prévisions à ce stade. Mais, nous pensons qu’il peut y avoir de l’upside notamment sur : 1/ une amélioration plus rapide que prévu en 2020 du marché de la mémoire (nous tablons sur un CA groupe à +8% pour 2020 avec...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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