RBC Capital Assumes ASML Inc. (ASML) at Sector Perform

RBC Capital assumes coverage on ASML Inc. (NASDAQ: ASML) with a Sector Perform rating and a price target of $100.00.

Analyst Amit Daryanani commented, "While we expect ASML to benefit from 10nm logic/foundry investments starting H2:16, our Sector Perform rating is driven mainly by our concern on the memory spending cycle. That said, we think ASML has the potential to outperform its peers (AMAT and LRCX) by significantly increased earnings power when EUV becomes available for high-volume manufacturing. At this point, given the high valuation (26xP/E vs. AMAT at 14x and LRCX at 11x), lack of long-term certainty around EUV, and lower growth in its core lithography market (vs. deposition & etch), we are assuming coverage with a Sector Perform rating and $100/€90 price target."

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 $96.59 yesterday.

You May Also Be Interested In

• ASML Inc. (ASML) PT Raised to $2,100 at RBC Capital
• JPMorgan upgrades 3M, Emerson Electric to Overweight ahead of earnings
• Affirm Holdings (AFRM) PT Raised to $100 at Compass Point