ASML: Liberum raises target price
(CercleFinance.com) - Liberum reinstates its "buy" rating on ASML shares, having increased its target price for them from 580 euros to 660 euros, seeing the Dutch semiconductor equipment maker "benefiting from structural and cyclical trends".
"ASML's acceleration to around 35% YoY growth in 2021 is a result of both shorter term cyclical strength and longer term structural growth drivers," the broker says.
Although it says that it is concerned about a medium-term slowdown in the semiconductor industry, Liberum believes that "the company's underlying structural drivers will minimise any order weakness in such a situation".
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.