SÜSS Micro Tec AG : Better than expected resilience in an uncertain context, target price raised to € 17 vs € 13
>Neutral rating maintained - target price raised to € 17 vs € 13 - Süss MicroTec reported a solid set of Q3 2020 results, despite the health crisis and one-offs relating to the closure of the site in the US (around € 4m over 9M 2020). Management remains optimistic on business in Q4 and confirmed its full-year guidance, which points to significant growth vs Q4 2019. On this basis, we have raised our EPS estimates by 38% for 2020 and 6% for 2021 and raised our target pr...SUESS MicroTec SE Formerly known as Suess MicroTec AG. SUESS MicroTec SE is a Germany-based holding company (the Group) that supplies process equipment for microstructuring in the semiconductor industry. The Group operates through four segments: Lithography, Bonder, Photomask Equipment and Others. The Lithography division develops, produces and sells the mask aligner, developer, and coater product lines, as well as ultraviolet (UV) projection and laser processing product lines. The Bonder division comprises the development, production and distribution of the substrate bonder product line. The Photomask Equipment division includes the development, manufacture and sale of HMx, ASx, MaskTrack and MaskTrack Pro product lines through SUSS MicroTec Photomask Equipment GmbH & Co KG. The Others division combines further activities of the Group in the area of micro-optics and lenses and the centralized Group functions.
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