ASML: Liberum raises target price
(CercleFinance.com) - Liberum reaffirms its "buy" recommendation on the ASML share, while raising its target price from 254 euros to 295 euros, in the wake of its estimates based on higher than expected EUV (extreme ultraviolet) sales.
The broker anticipates increases in ASML's revenue estimates over the next four to five quarters, believing that DRAM investment spending will start to recover in the first half of 2020.
"Given the outlook for rising gross and operating margins, we expect ASML's valuation multiples to remain at least at current levels," says Liberum, which expects the stock to continue to outperform over the next 12 months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.