ASML price target raised to $1,700 from $1,625 at RBC Capital

RBC Capital analyst Srini Pajjuri raised the firm’s price target on ASML (ASML) to $1,700 from $1,625 and keeps an Outperform rating on the shares. The company’s Q1 results were better than expected but its Q2 outlook was below consensus as China demand is tracking below the firm’s projections, the analyst tells investors in a research note. RBC adds however that it is boosting its FY26 EPS view to $10.54 from $8.89 and expects revenue momentum to sustain through 2027/28 driven by GenAI, Memory tightness, and growing Foundry competition.