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.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.