BofA/Merrill analyst Adithya Metuku says that ASML 's next generation technology, EUV "will underpin the disruptive themes of the next 5-10 years." The analyst says that the shares are undervalued and will rise by more than 50% by 2020 in his base case scenario. Metuku predicts that strong Chinese demand for lithography equipment could enable the stock to double by 2020. Finally, the analyst says that the company could soon receive an EUV order from Samsung. The analyst raised his price target on the shares to EUR165 from EUR140 and keeps a Buy rating on the stock.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Unusual total active option classes on open include: Steel Dynamics (STLD), Gildan Activewear (GIL), Danaher (DHR), Altimeter Growth (GRAB), Childrens Place (PLCE), ASML (ASML), US Bancorp (USB), iShares Barclays 7 to 10 Year Treasury Bond Fund (IEF), AMC Entertainment (AMC), and Abbott (ABT).
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Alcoa (AA)... To see the rest of the story go to thefly.com. See Story Here
"We expect second-quarter total net sales between EUR 5.7 billion and EUR 6.2 billion with a gross margin between 50% and 51%. ASML expects R&D costs of around EUR 1,070 million and SG&A costs of around EUR 295 million. Our outlook for the full year 2024 is unchanged, with the second half of the year expected to be stronger than the first half, in line with the industry's continued recovery from the downturn. We see 2024 as a transition year with continued investments in both capacity ramp and technology, to be ready for the turn in the cycle," said ASML president and CEO Peter Wennink.