Bernstein Lifts ASML Price Target on Strong Growth Outlook

Bernstein Boosts ASML Price Target

Bernstein has increased its price target for ASML Holding NV, a leading chipmaking equipment manufacturer. The new target for its European-listed shares is €1,700, up from €1,600, while the U.S.-listed share target was raised to $1,971 from $1,911.

DRAM Expansion Fuels Optimism

The upward revision is driven by an anticipated acceleration in DRAM capacity expansion. Bernstein projects this trend will more than double ASML's Extreme Ultraviolet lithography shipments to memory sector customers by the year 2028, signaling robust long-term demand.

Impact on ASML Stock

The brokerage maintained its "outperform" rating on ASML, designating it a top pick among European semiconductors. The new U.S. price target of $1,971 suggests a significant potential upside of 78.9% from its closing price of $1,399.42 on March 24.

Future Outlook

This revised forecast underscores strong analyst confidence in ASML's market leadership and its pivotal role in the global semiconductor supply chain. Investors will be monitoring the growth in the memory chip market as a key indicator of the company's performance.

FAQ

Q: Why did Bernstein raise ASML's price target?

A: The target was raised due to expectations that accelerating DRAM capacity expansion will double ASML's EUV shipments to memory customers by 2028.

Q: What is the new price target for ASML?

A: Bernstein set the new target at €1,700 for its European listing and $1,971 for its U.S.-listed shares.

Source: Investing.com