UPDATE: Deutsche Bank Upgrades ASML Holding N.V. to Hold on Execution, Lower CapEx Forecast

Deutsche Bank upgraded ASML Holding N.V.

from Sell to Hold. Deutsche Bank commented, "We lower 2013&14 EPS by 17 and 3% respectively to reflect weaker than expected memory and foundry Capex. ASML's current re-rating suggests confidence in the 2016 EUV bull case is increasing. We maintain our view that 'perfect execution' on the still challenging next-gen EUV technology would imply long-term upside to E72, implying an NPV of E49/share or limited upside from here." ASML Holding N.V. (ADR) closed at $61.15 on Friday.