ASML Stock: UBS Raises Price Target to €2,350 With 55% Upside – Here’s Why
TLDR
- ASML stock is down about 7% since late July after reports China was mass producing DUV lithography machines
- UBS analyst raised his price target to €2,350, implying 55% upside and a potential $1 trillion market cap
- UBS says China is unlikely to develop EUV technology within the next 10 years
- ASML reported quarterly revenue of $10.62 billion and earnings of $8.65 per share
- Consensus analyst rating is “Moderate Buy” with an average price target of $1,970.33
ASML stock was trading at $1,679.27 on Tuesday, down around 1% on the day, as the stock continues to feel the pressure from China competition fears.
The stock has dropped about 7% since late July, when reports surfaced that an unnamed Chinese company was mass producing deep ultraviolet (DUV) lithography machines.
DUV tools are used in chip manufacturing but are a step behind ASML’s more advanced extreme ultraviolet (EUV) machines. The news was enough to shake investor confidence.
UBS analyst Francois-Xavier Bouvignies is not buying the fear. He just raised his price target on ASML from €2,250 to €2,350, which would imply a 55% upside from current levels.
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