ASML : Slightly more confident on 2020, potentially double-digit growth in 2021 (despite the uncertainties)
>2020 EPS forecasts at +5%, 2021 unchanged, Buy rating and target price raised to € 390 from € 380 - Following our latest update with ASML, as the quiet period starts, we confirm our Buy rating. We have raised our EPS estimates by 5% for 2020 but left those for 2021 unchanged. We have raised our target price from € 380 to € 390. The stock has gained € 10 since our last update earlier this month (flash of 8 September) and is up 19% YTD but remains 10% off its highs. ...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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