Oddo BHF reiterates its 'outperform' rating on ASML, but raises its target price from €720 to €800, to reflect the rise in market comparables since the last publication on October 18, but also through a slight reduction in beta.

The analyst is reassured by the profile of the Dutch chipmaker's new CEO, Christophe Fouquet, who he sees as 'a guarantee of strategic continuity, with probably an even greater appetite for technology'.

The research firm points out that Christophe Fouquet will also take on the responsibilities of CTO, replacing lithography 'guru' Martin van den Brink, 'considered by many to be indispensable to the company's development'.

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