ASML price target raised to $1,971 from $1,911 at Bernstein

Bernstein raised the firm’s price target on ASML (ASML) to $1,971 from $1,911 and keeps an Outperform rating on the shares. The DRAM makers are accelerating the pace of capacity expansion due to the widening gap between DRAM supply and demand. DRAM capacity expansion and hence capex hike has been one of the major thesis for the firm’s bullish ASML. Bernstein forecasts ASML to ship 44 EUV machines to DRAM in 2028, representing 45% of the company’s EUV shipment. This is more than double from 18 units in 2025, or 34% of ASML’s EUV shipment then. ASML remains the firm’s top pick for the EU Semis sector.