Bernstein initiated coverage of Lasertec with an Underperform rating and 18,100 yen price target The firm is initiating on the Japan Semiconductors sector with a positive view, expecting it to benefit from the secular growth of semiconductor content and capex intensity as a crucial enabler in the global supply chain. Specifically for Lasertec, Bernstein sees growth deceleration with product maturing, and potential KLA entry in actinic inspection.
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