ASML price target lowered to EUR 680 from EUR 800 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on ASML (ASML) to EUR 680 from EUR 800 and keeps an Equal Weight rating on the shares. Challenging market dynamics have appeared “sooner than many expected,” says the firm, which sees investor focus turning to non-China DUV targets, along with a potential power shift in pricing negotiations between ASML and TSMC (TSM), given issues faced at other customers.