In its note of the day, the analyst considers that the outlook is intact, despite a drop in order intake. It confirms its Buy recommendation on the stock, with an unchanged target price of E1050, representing a potential upside of 23%.

' Q1 2024 orders were below expectations, but we maintain our buy rating due to improving order dynamics, high NA potential and growing customer size' says UBS.

' EBIT for the first quarter was 9% above consensus, while EBIT forecasts for the second quarter are 12% below consensus. We expect minor changes for fiscal 2024 and 2025. However, we believe that the decline in orders compared with high expectations will weigh on the share' adds the analyst firm.

ASML forecasts second-quarter revenues of between €5.7 and €6.2 billion, with a gross margin of between 50% and 51%. Its outlook for 2024 as a whole remains unchanged, with the second half of the year expected to be stronger than the first.

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