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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