Deutsche Bank Upgrades ASML Inc. (ASML) to Hold

Deutsche Bank upgraded ASML Inc. (NASDAQ: ASML) from Sell to Hold with a price target of $80.00. Analyst Robert Sanders said, in these uncertain times, ASML should benefit given its strong backlog and lower macro-driven exposure.

Sanders explained, "ASML shares are down 26% since an all-time high in May, underperforming tech by 15%. Expectations have become more realistic on the pace and strength of EUV introduction, while progress has been solid. As we enter the final phase, we still believe that risks of delays remain. However, until the next major catalyst (likely in July), we see ASML benefiting from anticipation of good news around EUV. We upgrade to Hold with an €80 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 $87.36 yesterday.

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