ASML: Barclays raises target price on shares
(CercleFinance.com) - Barclays has raised its target price for the ASML stock from 200 euros to 210 euros, after increasing its earnings estimates, which remain significantly ahead of the consensus.
Although ASML shares have rebounded by over 30% year-to-date, Barclays still sees further upside potential, as investors refocus on the Dutch company's outlook.
After two quarters dominated by the cycle, investors are refocusing on ASML's long-term structural growth, which is benefiting from EUV migrations, the broker said, maintaining an "overweight" rating on the share.
As the semiconductor equipment manufacturer follows its plan over the coming quarters - both in terms of sales growth and margin expansion - Barclays expects the shares to continue to rise.
ASML shares, which fell slightly yesterday (-0.1%), were trading up 1.3% at 182.4 euros on Thursday. They have risen 33% year-to-date.
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