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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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From: Donald Wennerstrom	8/31/2010 10:26:14 AM
	1 Recommendation Read Replies (1) of 95573

Aug 31, 2010 9:55 AM ASML: Deutsche Bank Cuts Rating; Cautious On Semi Equip Shrs Posted by Eric Savitz Deutsche Bank analyst Kai Korschelt this morning cut his rating on ASML Holding (ASML) to Hold from Buy, while chopping his price target on the stock to 22 Euros, from 31 Euros. “While we see this capex cycle extending into 2012, mid-term share price drivers such as bookings and consensus upgrades are peaking while slowing PC demand increases the risk of a DRAM capex slowdown,” he writes in a research note. “Even assuming current plans for a 46% increase in Semi industry wafer starts go ahead, our bottoms-up tool demand model suggests a 5% decline in 2012 EPS vs. 2011, while our bear case scenario suggests >50% EPS downside potential.” In U.S. trading, ASML is down 46 cents, or 1.8%, to $24.99.

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