ASML: Liberum raises target price

(CercleFinance.com) - Liberum reaffirms its "buy" recommendation on the ASML share, while raising its target price from 254 euros to 295 euros, in the wake of its estimates based on higher than expected EUV (extreme ultraviolet) sales.


The broker anticipates increases in ASML's revenue estimates over the next four to five quarters, believing that DRAM investment spending will start to recover in the first half of 2020.

"Given the outlook for rising gross and operating margins, we expect ASML's valuation multiples to remain at least at current levels," says Liberum, which expects the stock to continue to outperform over the next 12 months.


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