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ASML was always a top holding in the Calamatta Cuschieri Euro Equity Fund. Shares of ASML are up 235% over a period of 5-years.
ASML does not seem to be slowing down anytime soon as it reported excellent results for Q417. We have reviewed our model and increased our price target from €156 to €200. Looking long term and based on our model, we expect the shares to hit €275 by 2020.
The increase in price target is due to the increased optimism that the group is very close to meeting its 2020 ambitious targets. However, what’s even more attractive about this company is that the market is expecting growth that really kicks in post 2020.
In fact, analysts updated their price target on the stock to €180. However, in their report they immediately point out that they would not be surprised if the shares hit €250.
Rationale for our recommendation:
Risks
Conclusion
We are comfortable holding ASML in a well-diversified portfolio. It is well positioned to continue to benefit from further growth as global economic growth continues to remain supportive.
ASML has a strong set of financial statements and we expect the company to continue strengthening its position in years ahead.
About ASML
ASML is a Dutch company and currently the largest supplier in the world of photolithography systems for the semiconductor industry. The company manufactures machines for the production of integrated circuits (ICs), such as CPUs, DRAM memory, flash memory. The company is a component of the Euro Stoxx 50 stock market index.
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