ASML : The expected upside on 2021 has materialised, but there is plenty in the tank in the short and long term – Buy, target price raised to € 510 (vs € 480)
>It was tough, but another positive surprise. Buy rating maintained - While the stock’s recent performance (+46% since the low in October) suggested that it would not be easy to extend the momentum, this Q4 2020 release (initial reaction) surprised 1/ in terms of commercial momentum, underpinned both by the capex of the major foundries (TSMC and Samsung), and by that of memory manufacturers. EUV and services continue to show growth; 2/ on the short-term outlook, which...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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