ASM International: Oddo BHF raises TP

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on ASM International and raises its target price from E700 to E800, following a roadshow with Paul Verhagen, CFO of the Dutch chipmaker.


While leaving its forecasts unchanged at this stage, the broker believes that there is upside potential both in H2 2024, but especially in the medium term (to 2030), seeing visibility between now and the end of the decade - and probably beyond.

Given the group's changing profile and growth prospects, we believe that the market is willing to pay sustainably higher multiples than in the past for this type of company, the analyst says.


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