On Friday, Citi affirmed a Buy rating on ASML Holding NV (AS:ASML:NA) (NASDAQ: ASML), with a price target of €1,250.00. The firm anticipates a positive outcome from the company's first-quarter 2024 results, which are scheduled to be announced on April 17, 2024, at 6 am UK time. Analysts at Citi expect ASML to report a robust order intake for the quarter, bolstered by demand from TSMC for its N2 technology.
The firm also anticipates that ASML's management will confirm the financial guidance for 2024 and 2025 during the upcoming results announcement. This confirmation is expected to further drive positive momentum in estimates for the company's revenue and earnings per share (EPS) for the year 2025. Citi's forecasts for ASML's 2025 financial performance are notably more optimistic than the current market consensus.
Looking ahead, the market's attention is likely to shift towards ASML's Capital Markets Day (CMD) in November. At this event, Citi analysts predict that revisions to the company's 2030 business model will be a focal point. According to the firm, their estimates for ASML's performance in 2030 significantly exceed the market consensus, suggesting a strong long-term outlook for the semiconductor equipment manufacturer.
ASML, a key supplier in the semiconductor industry, is poised to benefit from the ongoing demand for advanced chipmaking technologies.
The company's leading position in the production of lithography systems, which are essential for manufacturing semiconductors, positions it to capitalize on the industry's growth trends. The forthcoming quarterly results and guidance confirmation are poised to provide investors with insights into ASML's current and future performance.
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