(News Bulletin 247) – Stifel downgrades its recommendation on ASML from ‘buy’ to ‘hold’ while reducing its price target from 750 to 650 euros, expecting only single-digit revenue growth in 2024 and lowering its 9% EPS projection for next year.
The broker expects the outperformance of the Dutch manufacturer of equipment for the semiconductor industry against the sector in 2023 (+25% sales growth) to pause in 2024 (+5.5% expected growth ).
According to him, stocks like Applied Materials ‘are in a better position to benefit from the relative strength of investments in mature technologies, compared to ASML and its monopoly position in EUV’.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
