BESI: Oddo upgrades stock
(CercleFinance.com) - Oddo BHF has upgraded its BE Semiconductor Industries (BESI) shares from "neutral" to "outperform", raising its target price for them from E70 to E100, in a report on European semiconductor stocks.
The emergence of new technologies, the increasing complexity of manufacturing processes and many investment projects will enable equipment manufacturers to outperform the sector's growth, with a strong rebound as early as 2024, the analyst says.
Oddo includes a more positive scenario in its forecasts (with an average revision on 2024 EPS of 6%), and mentions a clear preference for those most exposed to technological transitions, i.e. ASML, ASMi, Aixtron, BESI, VAT and PVA.
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