ASML upgraded to Outperform from Market Perform at Bernstein

Bernstein upgraded ASML (ASML) to Outperform from Market Perform with a price target of $1,528, up from $935. The firm also named ASML its top pick in European semiconductors for 2026. The company will benefit from the upcoming DRAM “super cycle,” the analyst tells investors in a research note. The firm says the top three DRAM makers are adding greenfield capacity in 2026 and accelerating the node migration, which is “great” for ASML. Bernstein believes 2026 and 2027 will be “big years” for extreme ultraviolet and for ASML.