ASML gains more than 2% Amsterdam, benefiting from an analysis by Oddo BHF which reaffirms its ‘outperformance’ opinion on the share with a price target raised by 900,920 euros, after results for the fourth quarter of 2021 above expectations, but ‘abnormally low’ forecast for the first quarter of 2022.
The design office points to ‘an acceleration in 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 is raising its EPS forecasts for ASML by 3% in 2022 and 6% in 2023. According to him, the supplier for the semiconductor industry ‘will have to decide’ invest significantly.
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