Deutsche Bank Downgrades ASML Inc. (ASML) to 'Hold' After Recent Outperformance

Deutsche Bank downgraded ASML Inc. (NASDAQ: ASML) from Buy to Hold, price target slightly raised to E28.50.

Deutsche analyst says, "After recent outperformance, we believe ASML's share price now discounts a likely recovery in tool bookings to a ~E900m quarterly runrate. In our view this should be achievable due to recovering technology migration Capex in DRAM, continued NAND capacity addition and potentially stronger Samsung logic/LSI Capex in 2012. However, on our raised estimates ASML trades at the mid-point of its trough cycle P/E range and close to mid-cycle EV/Sales and P/B multiples."

For more ratings news on ASML Inc. click here and for the rating history of ASML Inc. click here.

Shares of ASML Inc. closed at $40.65 yesterday.

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