(News Bulletin 247) – Jefferies remains long on the ASMI share and keeps its price target at 390E.

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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%).

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“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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