ASML: Stifel raises its price target

( – Stifel reaffirms its ‘buy’ recommendation on ASML while raising its price target from 730 to 750 euros, in the wake of EPS estimates raised slightly for 2023 and 2024 after the Dutch group’s quarterly publication .

“ASML’s strong backlog confirms our view that DRAM manufacturers are embracing EUV technology and should continue to do so through the memory down cycle expected in 2023 (and potentially 2024),” the broker said.

According to Stifel, this makes ASML less exposed to reductions in memory capital expenditures than other names in semiconductor equipment. It anticipates EUV revenues to rise to 10.3 billion euros in 2023, against 7.1 billion last year.

Copyright © 2023 All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.

Did you like this article ? Share it with your friends with the buttons below.





Source link -85