ASML: BarCap raises target price.
(CercleFinance.com) - Barclays Capital (BarCap) reiterates its "overweight" recommendation on ASML, which is its top pick in the technology sector in Europe.
It is also raising its target price by 9% to 153 euros.
After Q2 results, we assume that the ASML scenarios supporting its 2020 target model are becoming increasingly conservative, said the broker, which says it is now more confident in its own forecasts that exceed those of the consensus.
In its basic scenario, BarCap expects average annual growth of 13% for sales and 28% for EPS over 2017-20, which it believes should be increasingly reflected in the valuation of the Dutch manufacturer of photolithography systems for the semiconductor industry.
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