Analyst sees record orders as underpinning future growth.

UBS confirms its buy recommendation on the stock and raises its target price to E880 (from E785), representing a potential upside of 13%.

' Fourth-quarter EBIT was 9% above consensus (although we believe it includes 1.6 billion euros more revenue than expected), while first-quarter EBIT guidance is 35% below consensus. Based on the reiterated forecasts for the fiscal year, we expect minor changes to EBIT' says UBS.

Claiming order intake of 9.19 billion euros in the past quarter, the Dutch group anticipates sales of between five and 5.5 billion euros, as well as a gross margin of between 48 and 49% for the current quarter.

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