ASML : Road show feedback - Positive investment case reiterated
>Buy recommendation reiterated after a road show day - Following the road show in Paris with Marcel Kemp (head of IR), we reiterate our Buy recommendation. The road show confirmed group’s positioning and the commercial momentum, notably in EUV for which the only subject is that its supply chain keeps up. This unique feature alone (with the € 6bn 3-year share buyback programme) helped to offset the negative impact of the indication of a gross margin below forecasts for...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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