(CercleFinance.com) – The analyst approaches the fourth quarter 2021 results season with confidence in the ability of companies in the sector (manufacturers and equipment suppliers) to meet, or even exceed, their forecasts and consensus expectations.
Oddo estimates that it is therefore likely that structural growth in the sector will be closer to 10% for a few years than to 6/7%. ‘As such, there could be more upside surprises than the market is pricing in’.
‘ ASML (O/P, OC 900 E) and ASMi (O/P, OC 490 E) remain ‘must haves’. We are raising our forecasts for BESI (O/P) and our OC 95 E (against 87 E) because the cycle will remain favorable. We remain positive on Aixtron (O/P, OC 26 E)’ adds the analysis office.
‘ Among the ‘manufacturers’, we continue to push STM (O/P, OC 56 E against 53 E) and IFX (O/P, OC 52 E against 50 E). In the midcaps, we are positive on Soitec (O/P, OC 280 E) due to its exposure to the structural growth of 5G’.
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