ASML initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of ASML (ASML) with an Outperform rating and $1,550 price target While SemiCap valuations seem to be discounting the positives “to an extent,” the firm sees further upward bias to WFE in the next two years, the analyst tells investors. HBM growth and a DDR transition is driving higher EUV usage in Memory, the analyst added.