ASML : Adoption of a more conservative scenario for 2024, but a powerful rebound is still anticipated in 2025
>Negative ‘noise’ factored in and a more cautious scenario adopted for 2024. Target price cut to € 740 vs € 830 but Outperform rating maintained - The newsflow, whether well-founded or simply based rumours, has recently been extremely unfavourable, resulting in a 20% fall in the share price over three months. Although we had expected 2024 to be a year of a significant rebound in capex, fears surrounding weak global economic growth and a fresh escalation on US sanction...ASML Holding provides lithography systems for the semiconductor industry, manufacturing machines that are used in the production of integrated circuits or chips. Co. develops, produces, markets, sells and services advanced semiconductor equipment systems exclusively consisting of lithography systems. Co. sells its products to micro-processor manufacturers and Foundries, NAND-Flash memory and DRAM memory chipmakers. Co.'s products line includes the following: PAS 5000 lithography systems, which Co. no longer manufactures but continues to refurbish; PAS 5500 products; TWINSCAN DUV systems and TWINSCAN EUV systems based on a new platform utilizing the concepts of the TWINSCAN platform.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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