Barclays analyst Simon Coles raised the firm’s price target on ASM International to EUR 640 from EUR 600 and keeps an Equal Weight rating on the shares. The firm updated estimates for its European technology hardware and semiconductors coverage ahead of the Q3 reports. TSMC is its preferred name and Barclays would continue to buy ASML and BE Semiconductor on any weakness. The firm expects further cuts to consensus estimates for Infineon and STM. It also prefers Ericsson to Nokia into the quarter in telecom equipment.
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- ASM International, Arm named ‘joint Top Pick’ in EU Semis at Morgan Stanley
- ASM announces completion of share buyback program
- ASM International price target lowered to EUR 750 from EUR 800 at Deutsche Bank
- ASM International sees Q3 revenue EUR 740M-780M
- ASM reports Q2 new orders EUR 755.4M vs. EUR 697.9M last quarter
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