In a report released today, Andrew Gardiner from Citi maintained a Buy rating on ASML Holding NV (0QB8 – Research Report), with a price target of €930.00.
Andrew Gardiner has given his Buy rating due to a combination of factors that highlight ASML Holding NV’s potential for growth and resilience in the face of market challenges. Despite a lower-than-expected order intake in the first quarter, the company has maintained its revenue outlook for 2025, projecting a range between EUR30-35 billion, with further growth anticipated in 2026. This confidence is underpinned by ASML’s advancements in technology, particularly in EUV lithography, which are expected to drive higher average selling prices and margins.
Furthermore, ASML’s financial performance has been robust, with first-quarter revenue aligning with expectations and gross margins exceeding them, driven by favorable pricing and product configurations. Although there are uncertainties related to tariffs, the company’s technological progress and attractive valuation, trading at 22 times the projected 2026 earnings, suggest a promising investment opportunity. Gardiner’s analysis indicates that the current share price may not fully reflect ASML’s potential earnings growth, making it an attractive buy for investors.
In another report released today, Jefferies also maintained a Buy rating on the stock with a €660.00 price target.