ASML: Berenberg maintains 'buy' rating; targets 175 euros.
(CercleFinance.com) - Berenberg maintains a "buy" rating on ASML shares, with a target price of 175 euros, saying "all is progressing well" following a Paris roadshow with the Dutch semiconductor equipment maker's CFO.
The German broker says ASML's revenue target of 11 billion euros for 2020 seems "more achievable" than when it was set last year, due to robust demand.
"The adoption of ASML's extreme ultraviolet lithography (EUV) tool is progressing well," Berenberg writes in a research note.
The broker points out that ASML highlighted that artificial intelligence, autonomous driving, cloud computing and mobile phones will be demand drivers.
Berenberg says it expects this type of cycle to be more sustainable than previous phases of high capex.
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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.
The German broker says ASML's revenue target of 11 billion euros for 2020 seems "more achievable" than when it was set last year, due to robust demand.
"The adoption of ASML's extreme ultraviolet lithography (EUV) tool is progressing well," Berenberg writes in a research note.
The broker points out that ASML highlighted that artificial intelligence, autonomous driving, cloud computing and mobile phones will be demand drivers.
Berenberg says it expects this type of cycle to be more sustainable than previous phases of high capex.
Copyright (c) 2017 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.