ASML: UBS reiterates its buy recommendation after the results

(CercleFinance.com) - UBS reiterates its Buy recommendation on the stock, with a target price of E1,050, following the announcement of second-quarter 2024 results, which the analyst believes are in line with expectations.


'Q2 EBIT was 7% above consensus, while Q3 EBIT forecasts are 13% below consensus. Forecasts for 2024 and 2025 have been reiterated, and order intake is roughly in line, so we don't expect much change from consensus' says UBS.

The chip industry equipment supplier reported EPS of 4.01 euros for its second quarter 2024, compared with 3.11 euros for the first three months of the year.

Claiming net orders of 5.6 billion euros (including 2.5 billion in EUV) over the past quarter, ASML expects a gross margin of between 50 and 51%, as well as revenues of between 6.7 and 7.3 billion for the third quarter.


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