ASM International upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded ASM International to Overweight from Equal Weight with a price target of EUR 800, up from EUR 525. ASM has key intellectual property for advanced semiconductor manufacturing that “positions it very well to benefit” from AI tailwinds, says the analyst, who finds conviction to raise estimates above guidance and the Street view for FY25-FY27 with order momentum picking up.