ASML: remains Oddo's top pick in sector

(CercleFinance.com) - Oddo says September's global sales fell short of expectations.
However, they are still improving, reaching -14.4% y-o-y, against -15.6% y-o-y in August.

Excluding memories, the situation is improving significantly, but a further decline in memory prices is weighing on the market's posted growth, the broker said.

Oddo still expects there to be an improvement in the second half of 2019, due to comparison bases. However, it has reduced its market forecasts for 2019 to -13% (vs. -11%), due to the poor performance of memory.

Recommending investors prefer shares with their own growth drivers in H2 2019, ASML remains its top sector pick.


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