Bernstein lowered the firm’s price target on ASML (ASML) to $743 from $806 and keeps a Market Perform rating on the shares. The company released a set of pretty strong Q2 results with revenue/margin and order beats while reiterating its 2025 guidance with 15% growth from last year, the analyst tells investors in a research note. Upon close inspection however, the orders are also not as strong as it seems, with EUR1.4B backlog adjustment seen due to “customers response to export controls”, Bernstein added.
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