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Investing.com - Wells Fargo has raised its price target on ASML Inc. (NASDAQ:ASML) to $1,140.00 from $1,105.00 while maintaining an Overweight rating on the semiconductor equipment manufacturer. The company, currently trading at $1,009.81 with a market capitalization of $395.74 billion, has shown strong momentum with a 59.8% return over the past six months. According to InvestingPro analysis, ASML appears to be trading near its Fair Value.
The firm described ASML’s third-quarter 2025 results as "relatively clean," noting that bookings were largely in line with expectations and extreme ultraviolet (EUV) lithography system orders reached their highest level since the fourth quarter of 2023.
Wells Fargo analyst Joseph Quatrochi indicated that ASML plans to wait until January to provide guidance for 2026, with improving demand visibility and support for revenue growth exceeding low single digits expected to be key drivers for the stock.
The bank slightly increased its estimates for ASML, maintaining a projection of approximately 4% year-over-year revenue growth for 2026. Its calendar year estimates now stand at €32.5 billion in revenue and €25.03 in earnings per share for 2025, €33.7 billion and €25.99 for 2026, and €37.9 billion and €31.42 for 2027.
Wells Fargo also initiated 2028 estimates at €41.4 billion in revenue and €35.91 in earnings per share, while keeping its valuation multiples unchanged at 37x price-to-earnings and 29x enterprise value to EBITDA based on calendar 2026 estimates. These projections align with ASML’s current P/E ratio of 36.55x and EV/EBITDA of 27.86x. For deeper insights into ASML’s valuation and 16 additional ProTips, visit InvestingPro.
In other recent news, ASML Holding NV has reported several significant developments that are capturing investor attention. The company exceeded consensus expectations with its third-quarter bookings, reporting EUR5.4 billion compared to the anticipated EUR4.9 billion. This strong performance was primarily driven by its EUV technology for DRAM memory chips. Additionally, ASML’s third-quarter 2025 EBIT came in approximately 2% above consensus estimates at EUR2.5 billion, although revenue was slightly below expectations, as noted by Visible Alpha Consensus Data.
Analysts have responded positively to ASML’s performance and outlook. Evercore ISI, Deutsche Bank, Goldman Sachs, and BofA Securities have all raised their price targets for the company, citing factors like AI demand and strong outlooks. Evercore ISI increased its target to EUR1,000, while Deutsche Bank and Goldman Sachs set theirs at EUR1,000 and EUR1,050, respectively. BofA Securities also raised its price target to €986, with an additional target of $1,134, highlighting higher gross margin expectations and increased EUV delivery forecasts. These developments reflect a positive sentiment from analysts, maintaining Buy ratings across the board.
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