Bernstein analyst Sara Russo initiated coverage of ASML with an Outperform rating and EUR 700 price target as part of rolling out coverage of the European semiconductor sector following the group’s "significant de-rating" in 2022. In semiconductor capital equipment, she views ASML’s "friendly monopolist" approach as a model for success and believes that it remains strategically well positioned despite WFE capex reductions expected in 2023.
Published first on TheFly
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