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23 Jan 2020
ASML: Strong ramp of EUV expected in 2021 slightly offset by increase in spending | BUY | EUR290(+7%)
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ASML: Strong ramp of EUV expected in 2021 slightly offset by increase in spending | BUY | EUR290(+7%)
ASML Holding NV (ASML:WBO) | 0 0 1.0% | Mkt Cap: 67,287m
- Published:
23 Jan 2020 -
Author:
Frederic Yoboue -
Pages:
5
ASML - BUY | EUR290(+7%)
Strong ramp of EUV expected in 2021 slightly offset by increase in spending
Double-digit growth expected in 2020
Gross margin should not exceed 50% on a full year basis
Strong ramp in EUV to weight on FCF in 2020
We maintain our BUY rating and Fair Value at EUR290