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ASML shares see red after analysts hit sidelines

Jul. 29, 2020 11:17 AM ETASML Holding N.V. (ASML) StockASMLBy: Brandy Betz, SA News Editor14 Comments
  • U.S.-traded shares of chip equipment company ASML (NASDAQ:ASML) drop 3% after a pair of downgrades.
  • UBS downgrades the Amsterdam-listed shares from Buy to Neutral, struggling to see a "compelling upside" to ASML's shares on a 12-month view due to the recent re-rating.
  • Despite the uncertainty around 2021 EUV shipments, the firm still sees ASML in the middle of a multi-year growth cycle, driven by EUV layers growth in Logic and DRAM.
  • UBS raises ASML's price target to €340 from €300.
  • Bernstein lowers ASML ADRs to Market Perform with a $322 price target, a 14% downside.
  • Post updated to correct last bullet to downside rather than upside.

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