Barclays downgraded ASML (ASML) to Equal Weight from Overweight with a price target of EUR 650, down from EUR 770. The firm’s estimates sit 8% below consensus for 2026 revenue, and due to a lack positive catalysts it sees a “tough setup” for the shares over the coming months. Barclays highlights risk to ASML’s expectation of “growth” in 2026. It models 1% growth at this point but says there are downside as well as upside risks to estimates.
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