ASML: stock soars as analysts welcome bear-and-raise quarter

(CercleFinance.com) - ASML's shares surged on Thursday, on the back of upbeat analyst comments regarding the solid fourth-quarter results that the Dutch semiconductor-equipment maker published yesterday.


ASML shares were up 3.5% in afternoon trading, the biggest riser on Euro STOXX 50 index.

"ASML's extremely strong fourth-quarter results and first-quarter guidance reflects the current tightness of semiconductor supply," Liberum wrote in a note, as it raised its target price to 510 euros from 450 euros.

"ASML sees demand improving across its customer base and product portfolio, with the most potential in 2021 to come from its core DUV product line. We think upside here is likely," Barclays added.

The British broker reiterated its "overweight" rating on the stock, with a 525 euro target price, making ASML its "top pick" in European tech hardware.

Meanwhile, UBS raised its target price from 430 euros to 445 euros, while New Street Research upgraded the stock to "buy," citing TSMC's plans to spend between 25 billion dollars and 28 billion dollars in capex this year.

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