Didier Scemama, an analyst from Bank of America Securities, maintained the Buy rating on ASML Holding NV (0QB8 – Research Report). The associated price target remains the same with €859.00.
Didier Scemama has given his Buy rating due to a combination of factors that highlight ASML Holding NV’s strategic position in the semiconductor industry. One of the key reasons is the anticipated increase in lithography intensity as the industry moves beyond 2nm nodes. Despite theoretical decreases in EUV layer needs due to architectural changes, the practical application suggests continued or increased use, which benefits ASML as a leading supplier of EUV technology.
Additionally, the expected shift from low-NA to high-NA tools by 2027/28, driven by technological advantages such as higher productivity and cost-effectiveness, positions ASML favorably. The structural advantages of leading foundries like TSMC, which are early adopters of multi-patterning EUV, further support ASML’s market position. Moreover, the potential emergence of an EUV ecosystem in China, even at lower performance levels, underscores the growing global demand for EUV technology. Combined with an attractive valuation, these factors underpin the Buy rating for ASML.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a €1,057.00 price target.