Deutsche Bank Downgrades ASML Inc. (ASML) to Sell, Says Expectations Too High

August 28, 2012 8:18 AM EDT
Get Alerts ASML Hot Sheet
Price: $122.05 +0.16%

Rating Summary:
    12 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank downgraded ASML Inc. (NASDAQ: ASML) from Hold to Sell.

The firm comments, "Despite ASML's strong industry position, we see 2013 consensus expectations as too bullish. Slowing 32/28nm foundry capacity additions and an only modest 22/20nm ramp in H213 could drive a sustained foundry slowdown over the next 6-12mths. With secular demand headwinds also muting memory spending, in our view, ASML's 2013 EPS could decline yoy; we are 27% below consensus. After strong share price performance, we recommend taking profit and lower our recommendation from Hold to Sell."

Price target lowered from E40 to E35.

For an analyst ratings summary and ratings history on ASML Inc. click here. For more ratings news on ASML Inc. click here.

Shares of ASML Inc. closed at $58.02 yesterday.

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