ASML : Visibility extends to 2022-2023 and even beyond
>EPS forecast raised by 7% and target price to € 760 (vs € 700), Outperform maintained - Yesterday, once again and despite a +46% YTD gain on the share, ASML delivered a positive surprise, not so much on Q2 2021 results, but 1/ with another upward revision to its guidance for growth in 2021 (+35% vs +30%), 2/ by providing visibility for 2022, 2023 and beyond and 3/ with the launch of an aggressive new share buyback programme of € 9bn. We have raised our forecasts by 7...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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