ASMi: Jefferies still a buyer
(CercleFinance.com) - Jefferies maintains its buy rating on ASMI shares, along with its target price of 390 euros.
The analyst has basing the rating on the company's announced guidance for Q4 2022 revenue of 630-660 million euros, up from 600-630 million euros previously, due to a lower-than-expected impact from recent US sanctions against China and a higher backlog conversion.
Jefferies says that the company now expects the impact of US sanctions on its sales in China to be around 15%-25% (down from 40%).
With a second broker positive about the share, it is currently up over 3% in an Amsterdam market that is just under water (-0.1%) this afternoon.
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