ASML: Oddo BHF still buying ahead of Q1 results

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' opinion on ASML shares, as well as its 2024/30 forecast sequence and target price of E1,100, representing 12-month upside potential of 20% for the share of the Dutch equipment supplier to the semiconductor industry.


Despite the share's very good performance over the year (+34%), there's still some upside, the analyst says, noting that while the valuation may seem high, trading at a 2024 P/E of 50x, it is 30x for 2025 and 27x for 2026, due to expected growth.

Ahead of its Q1 results on 17 April, which Oddo BHF expects to be fairly weak, in line with guidance, it nevertheless believes that the market's attention will be focused on orders for the period, which it anticipates will exceed expectations.


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