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Friday, October 16, 2009
ASML Cut To Sell From Hold At Citigroup
By Barbara Kollmeyer
MarketWatch Pulse
MADRID -- Dutch semiconductor group ASML Holding was cut to sell from hold on Friday at Citigroup which said it expects flat lithography orders for the group by the end of this year and more weakness in the first two quarters of 2010. Citi said the latest results from ASML support its view that a mid-cycle correction/digestion in lithography will be seen during the first half of 2010. The investment bank also said that ASML shares were expensive when stacked up against its rivals. Citi said due to better operating expenditure, 2010 earnings per share estimate will rise to 1.40 euros from 0.89 euros.
Copyright © 2009 MarketWatch, Inc.
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