ASML: UBS sticks to 'buy'

(CercleFinance.com) - UBS confirms its 'buy' recommendation on the share of ASML, which is up 4.
5% in Amsterdam this morning after half-year accounts were published by the semi-conductor industry supplier.
The 12-month target price remains fixed at 205 euros.

The analysts underline that the operating result achieved in the second quarter (Q2) by ASML exceeded expectations by 10% on better-than-expected gross margins.

UBS also underlines that orders went from 1.4 billion euros in Q1 to 2.8 billion euros in Q2. This improves the group's visibility and dampens the Q3 revenue forecasts provided by the management: three billion euros compared to the 3.25 billion expected by UBS and 3.31 billion by consensus.

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