In a report released today, Didier Scemama from Bank of America Securities reiterated a Buy rating on ASML Holding NV, with a price target of €724.00.
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Didier Scemama has given his Buy rating due to a combination of factors that highlight ASML Holding NV’s attractive valuation and potential for growth. Despite reducing Q3 and Q4 booking estimates due to macroeconomic and geopolitical uncertainties, the stock’s current trading multiples are below its historical median, suggesting an undervaluation that supports the Buy recommendation.
Furthermore, Scemama notes that while there are challenges such as tariff uncertainties and a weakening Chinese market, ASML’s long-term growth prospects remain strong. The company’s lithography intensity is expected to increase, driven by factors like EUV adoption and a resumption of tool purchases. Additionally, ASML’s roadmap is anticipated to help customers reduce costs and sustain high lithography intensity, reinforcing the positive outlook for the company’s future performance.
In another report released on August 30, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a €718.00 price target.