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Technology Stocks : ASML Holding NV -- Ignore unavailable to you. Want to Upgrade?

To: niek who wrote (1315)	12/13/2006 2:46:44 PM
From: niek	Respond to of 43545

We Downgrade ASML Holding As The Stock Is Within Our Price Target; We Move To Sidelines - Friedman, Billings, Ramsey Comments Wednesday, Friedman, Billings, Ramsey downgraded ASML Holding N.V. (ASML) shares to Market Perform from Outperform with a price target of $27. The brokerage estimates 2006 EPS of $1.41 and 2007 EPS of $1.70, for the company. Analyst Mehdi Hossein noted that the stock is within 8% of Friedman's price target. The analyst believes the current strong backlog could potentially provide some upside to its 2006 fourth quarter and 2007 first quarter estimates. But Hossein believes most of the good news has already been baked into the stock. That said, the analyst still believes the company is on track to gain further market share against competitors. The analyst, however, has also become increasingly concerned about the timing of volume orders for Immersion tools, particularly by Flash customers. And he believes any push-out here would wipe out the majority of the expected upside to calendar 2007 estimates. Concluding, the brokerage said it is simply moving to the sidelines for now until it has visibility on the timing of volume orders for Immersion tools. Currently, the stock is down six cents and trading at $24.97.