Andrew Gardiner, an analyst from Citi, reiterated the Buy rating on ASML Holding NV. The associated price target remains the same with €1,600.00.
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Andrew Gardiner has given his Buy rating due to a combination of factors pointing to a stronger outlook for ASML. After attending the SPIE Advanced Lithography conference, he concluded that ASML and its ecosystem are showing robust innovation, which, together with higher-than-expected semiconductor demand, supports a more optimistic view of the company’s growth trajectory.
He expects ASML’s revenue and earnings to exceed market forecasts through the late 2020s, with his estimates running ahead of consensus and even slightly above the upper end of ASML’s own 2030 targets. In his view, the shares remain attractively valued given this growth profile, trading on forward multiples and a PEG ratio that imply favorable risk-reward, which underpins his Buy rating and elevated price target.
In another report released yesterday, Deutsche Bank also maintained a Buy rating on the stock with a €1,500.00 price target.