ASML: shares down after UBS cuts target price
(CercleFinance.com) - ASML shares are down today - one of top three fallers on Amsterdam's AEX index, after UBS cut its target price for the share from 210 euros to 200 euros, while maintaining a "buy" rating on the stock.
In a note to clients, the broker warns against "short-term pain before long-term gain."
"We see signs of memory spending slowing in 2019 and trim our forecasts 4% but with EUV (Extreme UltraViolet) lithography moving to production and a Capital Markets Day to come we remain at buy," UBS writes in a note.
ASML shares are currently down 0.8% at 161 euros.
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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.
In a note to clients, the broker warns against "short-term pain before long-term gain."
"We see signs of memory spending slowing in 2019 and trim our forecasts 4% but with EUV (Extreme UltraViolet) lithography moving to production and a Capital Markets Day to come we remain at buy," UBS writes in a note.
ASML shares are currently down 0.8% at 161 euros.
Copyright (c) 2018 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.