(News Bulletin 247) – Jefferies remains long on the ASMI share and keeps its price target at 390E.
The analyst is based on the announced forecast of turnover for the fourth quarter of 2022 at 630-660 million euros against 600-630 million euros previously, due to a weaker impact than expected from the recent US sanctions against China and a larger conversion of the order book.
According to Jefferies, the company now expects the impact of US sanctions on its sales in China to be in the range of 15-25% (from 40%).
“We continue to expect strong growth in 2023 and beyond, due to continued strength in advanced logic orders and backlog conversion,” the analyst concludes.
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