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Investing.com - Rothschild Redburn upgraded ASML Inc. (NASDAQ:ASML) from Neutral to Buy on Friday, raising its price target to €1200 from €900. Currently trading at $1032.59, ASML is near its 52-week high of $1086.11 and is valued close to its Fair Value according to InvestingPro estimates.
The upgrade reflects Rothschild Redburn’s positive outlook on high numerical aperture (HNA) extreme ultraviolet lithography (EUV), citing substantial improvements in field stitching that coincide with rising chiplet adoption for AI compute applications.
The firm expects Taiwan Semiconductor Manufacturing Company (TSMC) to formalize its HNA timeline at its Technology Symposium in April 2026, a development that would benefit ASML as the primary supplier of advanced lithography equipment. With a market capitalization of $400.1 billion and impressive revenue growth of 22.77% over the last twelve months, ASML maintains a "GREAT" overall financial health score of 3.15 on InvestingPro.
Rothschild Redburn’s analysis concludes that lithography intensity will increase to 23% of wafer fabrication equipment (WFE) capital expenditure by 2030, driven by gate-all-around (GAA) transistors that offer Dennard-like scaling benefits.
Analyst Timm Schulze-Melander authored the research note detailing the investment thesis behind the rating change for the semiconductor equipment manufacturer.
In other recent news, ASML Holding NV reported strong third-quarter results, with bookings reaching EUR5.4 billion, surpassing the consensus expectation of EUR4.9 billion. The company’s performance was bolstered by significant demand for its extreme ultraviolet (EUV) lithography systems, particularly for DRAM memory chips. Reflecting its robust market position, Moody’s upgraded ASML’s senior unsecured ratings to A1, highlighting the company’s technological leadership and strong demand fundamentals.
In response to these developments, Deutsche Bank increased its price target for ASML to EUR1,000, maintaining a Buy rating, while Evercore ISI also raised its target to EUR1,000, citing a positive outlook for 2026. Wells Fargo adjusted its price target to $1,140, noting that ASML’s third-quarter results were "relatively clean" and EUV orders were at their highest since late 2023. Meanwhile, Bernstein SocGen Group reiterated its Market Perform rating, maintaining a price target of $935, even amid claims from a startup about a new semiconductor manufacturing method. These recent developments underscore the ongoing interest and varied perspectives from analysts regarding ASML’s market position and future prospects.
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