Stifel downgraded ASML to Hold from Buy with a price target of EUR 650, down from EUR 750. The analyst expects ASML’s industry outperformance in 2023 to pause in 2024. The current demand shift from leading-edge to mature semiconductor production technology capex at leading foundries should imply extreme ultraviolet demand pushouts, as evidenced by a weak order intake for EUV tools in Q1, the analyst tells investors in a research note. The firm says this should negatively impact growth expectations for 2024 and 2025.
Published first on TheFly
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- ASML reports transactions under its current share buyback program
- ASML price target lowered to EUR 630 from EUR 640 at Barclays
- ASML price target lowered to EUR 650 from EUR 675 at Deutsche Bank
- ASML price target raised to EUR 770 from EUR 767 at Credit Suisse
- ASML sees Q2 net sales EUR 6.5B-EUR 7B, gross margin 50%-51%
