BofA lowered the firm’s price target on ASML to EUR 750 from EUR 794 and keeps a Buy rating on the shares. The firm cut its FY24 and FY25 EPS estimates by 17% and 10%, respectively, reflecting downside risks on EUV pushouts, given delays in Smartphones/PC recovery, and immersion systems on increased risk following China pull-ins ahead of the advanced immersion ban starting on January 1.
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