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B. Riley raises ASML price target, recommends AMAT and Lam Research

Published 01/17/2018, 02:20 PM
© Reuters.  B. Riley raises ASML price target, recommends AMAT and Lam Research
  • B. Riley raises its ASML (ASML +7.5%) price target from $166 to $200 following the premarket earnings report.
  • Firm says ASML exited CY17 with a strong Q4 beat and that while the Q1 outlook was lower, overall performance was better than expected.
  • Earnings tailwinds were order and backlog strengths, which hint at strong CY18 Y/Y sales growth.
  • Firm thinks the target of CY20 EPS at €9.00 is attainable. CY18 and CY19 EPS estimates increased to €6.01 (was: €5.22) and €7.78 (was: €7.04).
  • B. Riley does see better value in Buy-rated Applied Materials (AMAT +4.7%) with a $71 price target and Lam Research (LRCX +6.5%) with a $250 price target.
  • Previously: ASML Holding (AS:ASML) higher 5.7% after Q4 profit and sales beat (Jan. 17)
  • Previously: Semiconductor stocks moving after ASML, Ichor news (Jan. 17)
  • Now read: The Applied Materials Super-Cycle Is In Full Swing


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