Hopper58 schreef op 23 juli 2024 13:59:
Buy Rating Affirmed for ASML Holding on Strong Market Position and Positive Financial Outlook
Carrie Williams
Jul 23, 2024, 11:00 AM
ASML Holding (ASML – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Joseph Quatrochi from Wells Fargo maintained a Buy rating on the stock and has a $1,185.00 price target.
Joseph Quatrochi has given his Buy rating due to a combination of factors including the positive financial trajectory of ASML Holding and the firm’s strong position in the market. Quatrochi emphasizes the company’s resilience as evident in the recent quarter’s system bookings, which outpaced expectations, and the projected demand recovery in 2025. The analyst’s outlook is bolstered by ASML’s significant order intake for EUV systems and the anticipation of increased orders for its next-generation N2 products. Furthermore, the high percentage of revenue from China underscores the company’s robust presence in this key market, despite potential government restrictions that could affect some of its business there.
The report also highlights the financial adjustments made by Quatrochi, which reflect a conservative yet optimistic projection for ASML’s near-term financials. This includes a more modest revenue and earnings per share estimate for the coming years, taking into account the lower-than-expected system revenue guidance for the third quarter of 2024 and a gross margin percentage in line with the company’s expectations. These estimates, combined with the solid return on invested capital and the company’s ability to manage its net debt effectively, contribute to the analyst’s confidence in ASML’s financial health and future performance.
In another report released on July 18, Argus Research also maintained a Buy rating on the stock with a $1,250.00 price target.
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