reports
- TMT Team
- Gregory Ramirez
Reduced visibility
We reiterate our Sell rating as have lowered our DCF-derived PT to EUR20 from EUR29 amidst reduced visibility and a second downward revision to company guidance for 2023. The decline in new system orders remained strong in Q3 2023. Beyond 2023, the lack of visibility for the coming months has led u
- TMT Team
- Gregory Ramirez
Winter is coming
We downgrade our rating to Sell from Neutral and have reduced our DCF-derived PT to EUR29 from EUR38 following the downward revision to company guidance by management for 2023. Admittedly, Q1 2023 results were above expectations, but they reflect a slowdown. As new system orders are plummeting in a
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