(CercleFinance.com) – ASML gains more than 2% in Amsterdam, benefiting from an analysis by Oddo BHF which reaffirms its ‘outperformance’ opinion on the stock with a price target raised from 900 to 920 euros, after results of fourth quarter 2021 above expectations, but ‘abnormally low’ forecasts for the first quarter 2022.
The design office points to ‘an acceleration of deliveries to meet demand, which paradoxically has consequences on short-term sales’, and considers that ‘the underlying demand is actually stronger than expected’.
Despite a low starting point in the first quarter, Oddo raises its EPS forecast for ASML by 3% in 2022 and 6% in 2023. According to him, the supplier for the semiconductor industry ‘will have to decide on’ invest significantly.
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