JPMorgan raised the firm’s price target on ASM International to EUR 806 from EUR 650 and keeps an Overweight rating on the shares. The company’s ALD and Epitaxy tools will see a period of “substantial new market share gains” or new high volume process adoption over the next few years, the analyst tells investors in a research note. The firm says this “golden period” should allow ASM’s near-term multiples to expand.
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