ASML: remains Oddo's top pick in sector
(CercleFinance.com) - There was a continued improvement in global semiconductor sales in November 2019.
Oddo estimates that November 2019's global semiconductor sales are bang in line with its forecast at -10.8% y-o-y (against -12.7% in October).
The broker points out that, excluding memories, the market is now slightly up at +0.9%, after bottoming out at -5.6% last June.
Analysts say that its scenario of an improvement in H2 2019 is still valid, with Q4 2019 results expected to meet expectations.
favourable comparison bases ahead in Q1 2020, analysts add. While still preferring stocks with their own growth drivers in H2 2019, ASML remains the broker's top pick.
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