ASMi: UBS maintains buy rating
(CercleFinance.com) - UBS reiterates its buy rating on ASM International shares with a target price of 370 euros (current price: 262 euros, +5.
2%) as the impact of US regulations on Chinese exports turns out to be lower than expected.
Analysts say that ASMI has provided updated guidance on US restrictions. In a statement, ASMI updated its guidance for Q4 and the impact of US export restrictions. Following further clarifications, ASMI now expects 15%-25% of sales in China to be negatively impacted by the US restrictions, a far cry from the 40% previously expected, they say.
ASMi's sales in China represent 16% of total revenues, they add.
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