ASML : Geopolitical tensions around China should not alter ASML’s trajectory
>Outperform recommendation confirmed, target price of € 800m (one of the highest of the consensus) after a site visit and road show - We spent two days with ASML, at a site visit where we met with Christophe Foucquet, EVP EUV and member of ASML’s board of directors (LinkedIn profile), followed by a road show in Paris with Marcel Kemp (Head of IR Europe). The context of the two visits was dominated by geopolitical considerations, with the opening of the TSMC factory in...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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