Argus analyst Jim Kelleher raised the firm’s price target on ASML to $775 from $590 and keeps a Buy rating on the shares after its better than expected Q4 results. The company’s revenue recognition has been impacted by timing of "fast-shipment" systems, and as supply scarcity continues to moderate, additions to productive capacity along with its improved ability to fulfill orders should drive faster revenue growth, the analyst tells investors in a research note. ASML also offers unmatched leadership in extreme ultraviolet and deep ultraviolet lithography, while its stock is "favorable valued", Argus added.
Published first on TheFly
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Read More on ASML:
- ASML reports Q4 EPS EUR 4.60 vs. EUR 4.29 in Q3
- ASML reports €21.2 billion net sales and €5.6 billion net income in 2022
- ASML initiated with an Outperform at Bernstein
- Dutch official won’t summarily accept U.S. rule on China export, Reuters report
- ASML initiated with an Equal Weight at Barclays
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