(CercleFinance.com) – Oddo BHF maintains its outperformance rating on ASMI shares with a price target raised from 530 to 700 euros.
‘This increase results from an increase in sector multiples (+45% since the last update) and an increase in forecasts of 8% for 2025,’ specifies the analyst.
ASMi will publish its Q4 23 and communicate its outlook tomorrow evening after the close.
Oddo BHF anticipates results that are generally unsurprising, with a turnover of 622 ME, stable qoq, but at -14% yoy, vs a consensus of 625 ME (guidance 600/640 ME).
As usual, ASMi should not give guidance 24. For its part, the consensus expects a Q1 and Q2 24 turnover of 645 ME and 695 ME.
‘We are very confident that ASMi will be one of the major beneficiaries of the transition to 2nm GAA, which also exposes it to AI,’ reports the broker.
In this context, Oddo BHF is counting on ‘a strong acceleration in 2025’ and is raising its 2025 growth forecast to +26% (vs +19% before) to €3.6 billion, at the top of the guidance, with 2025 EPS recorded +8%.
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