Deutsche Bank Downgrades ASML Inc. (ASML) to Sell, Says Expectations Too High
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Price: $81.30 +1.55%
Rating Summary:
12 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
12 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ASML Now!
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, with a 52 week range of $32.07-$59.20.
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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, with a 52 week range of $32.07-$59.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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