ASM International Price Target Up as Berenberg Notes 1.4-nanometer Node-driven Growth

07:17 AM EDT, 09/09/2026 (MT Newswires) -- Berenberg bumped up its price target for ASM International (ASM.AS) to 1,200 euros from 1,140 euros, as analysts point to a "favourable spending mix" for 2027 tied to expected growth in the company's 1.4-nanometer node. "As per our research, the number of [atomic layer deposition] layers at 1.4nm could increase by more than 10 versus 2nm. Within the incremental layers, we believe ASMI is well positioned to capture incremental ALD layers associated with the metal-insulator-metal capacitor (MIMCAP) structure introduced at 1.4nm (likely to be five layers at least). We believe ASMI's recent molybdenum (Mo) ALD application wins, likely at Intel (INL.F) in our view, provide an important reference point and strengthen its position in the emerging Mo ALD market ahead of potential adoption at TSMC," the research firm wrote in a Wednesday note covering the semiconductor sector. Berenberg maintained its sales, EBIT and EPS forecasts for 2026, while those for 2027 and 2028 were increased. The stock's buy rating was also kept. "The total addressable market for ALD could, we think, continue to grow, with further adoption in the logic and DRAM market likely, in our view, and with ASMI's potential entry into the memory market," Berenberg wrote.