UPDATE: Nomura Securities Upgrades ASML Inc. (ASML) to Buy; Revenue Outlook Underestimated

(Updated - May 18, 2012 9:23 AM EDT)

Nomura Securities upgraded ASML Inc. (NASDAQ: ASML) from Neutral to Buy. PT raised from EUR 26 to EUR 42.

Analyst, Carmen Boyero, assumes coverage, while upgrading the stock from Neutral to Buy, with consensus, in our view, underestimating the potential for: 1) a DRAM/NAND moderated recovery from current low levels; and 2) sustained robust investment in logic. We forecast revenues in 2012 and 2013, which are 6% and 4% ahead of consensus expectations, respectively, putting us 9% of the street on earnings for 2013. Stock trades at 11.5x FY13E.

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 $45.17 yesterday.

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