Grupo Santander downgraded ASML Holding N.V. to an "underperform" rating on Thursday. The downgrade introduces caution for the semiconductor equipment giant. This action contrasts with the stock's performance, which hit a new 52-week high the same day. ASML traded as high as $1,392.58.
The downgrade occurs despite generally bullish Wall Street sentiment. Analysts cite strong capital expenditure plans from key customer TSMC. These plans serve as a positive catalyst for ASML's future earnings. Zacks concurrently reported an average brokerage recommendation equivalent to a "Buy." This recommendation cites growing optimism over the company's earnings prospects.