ASML: Stifel raises target price

(CercleFinance.com) - Stifel maintains its buy rating on the ASML share and has raised its corresponding target price to 520 euros (vs.
420 euros previously), "due to higher earnings estimates and to reflect multiple expansion in the sector", the broker says, pointing out that "the short-term earnings momentum remains strong and the long-term outlook has further improved".

The broker also points out better-than-expected Q4 2020 and Q1 2021 results and has raised its 2021 and 2022 EPS estimates by 8% and 9% respectively for ASML.

"We expect memory-related equipment orders for ASML to rise further in the course of 2021," Stifel said.


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