SÜSS Micro Tec AG : Clearly more resilient than we thought - target price raised to € 10
>Neutral maintained, target price raised to € 10 vs € 7 - When reporting its Q1 2020 results, management confirmed its full-year targets due to significant order levels, i.e. € 69m, the highest since Q4 2017. We reiterate our Neutral recommendation. We nevertheless raise our target price to € 10 (vs € 7). The group’s forecasts should be supported by various growth opportunities, including 5G and the recovery in memories in H2 2020. Bear in mind also that management is...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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