ASMI: Oddo BHF still a buyer, but cuts target price

(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on the Dutch semiconductor equipment supplier ASM International's shares, despite reducing its target price for them from E480 to E450.


While acknowledging that the targets presented at its CMD were a bit short on the surface, the analyst believes that the meeting confirms the company's ability to structurally outperform growth in the equipment market.

Although the group's 2025 and 2027 targets are not mind-blowing, they do not question its trajectory, Oddo BHF says, which reflects the vagueness over 2024 by reducing its EPS estimates by 9%, while it considers that the shares seem attractive after their significant fall.


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