AI-Driven Demand and Structural Growth Undervalued at ASM International: Maintaining a Buy Rating

Goldman Sachs analyst Alexander Duval maintained a Buy rating on ASM International NV today and set a price target of €895.00.

Alexander Duval has given his Buy rating due to a combination of factors, primarily the broad-based demand tailwinds ASM International is seeing from artificial intelligence–related investments across the semiconductor industry. He believes the company is well positioned in advanced deposition and epitaxy tools, which are critical for next-generation chip manufacturing and should support above-market growth and attractive returns over the medium term.

In addition, Duval highlights the resilience and incremental strength of ASM International’s business in China, which helps diversify revenue and partially offset cyclicality elsewhere. He also factors in the company’s solid execution, healthy balance sheet, and capacity to convert earnings growth into cash, all of which underpin his view that the current valuation does not fully reflect ASM International’s structural growth prospects.

In another report released today, Citi also assigned a Buy rating to the stock with a €1,000.00 price target.