ASML has issued a very strong quarterly update. This was stated by ING analyst Marc Hesselink on Wednesday.
“The results were as expected [ … ] gross margin was higher thanks to more software upgrades. This resulted in a 7 percent windfall for the EBIT”, says Hesselink.
He also stressed the inflow of 8.3 billion euros in orders, a record.
“All in all, the tone is very positive with regard to the demand for 2021 and beyond”, says Hesselink, who has a buying advice on ASML with a price target of 650.00 euro.
Hesselink expects that the analyst consensus can increase by about 5 percent for sales and even by 10 percent for EBIT.
“We are counting on ASML’s message on the Investor Day in september to be a big boost for the next decade,” says Hesselink.
The ASML share increased 4.4 percent on Wednesday.