ASML: UBS reiterates buy rating after results
(CercleFinance.com) - UBS reiterates its Buy recommendation on the stock, with a target price of E1,050 (cp: E865, -0.
7%), following the announcement of Q2 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, UBS says.
The chip industry equipment supplier reported EPS of E4.01 for Q2 2024, compared with E3.11 in Q1.
Announcing net orders of E5.6bn (including E2.5bn in EUV) over the past quarter, ASML expects a gross margin of between 50% and 51%, as well as revenues of E6.7bn to E7.3bn in Q3.
Copyright (c) 2024 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.
7%), following the announcement of Q2 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, UBS says.
The chip industry equipment supplier reported EPS of E4.01 for Q2 2024, compared with E3.11 in Q1.
Announcing net orders of E5.6bn (including E2.5bn in EUV) over the past quarter, ASML expects a gross margin of between 50% and 51%, as well as revenues of E6.7bn to E7.3bn in Q3.
Copyright (c) 2024 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.