Shares of ASML Holdings (NASDAQ: ASML) were falling on Friday, down as much as 4.6% in early-morning trading, before recovering to a 3.4% decline as of 12:45 PM EDT.
After Wednesday's 50-basis point interest rate cut spurred a rally on Thursday, ASML gave back most of those gains today, as one analyst moved to the sidelines on the company's shares.
Semiconductor analysts at Morgan Stanley downgraded ASML shares to equal weight from overweight on Friday, and they lowered the firm's price target to 800 euros from 925 euros.
Source Fool.com