RBC Capital Initiates Coverage on ASML at Outperform
- Rating
- Outperform
- New coverage
- Target
- $1,550
- First target
- Outcome
- Reached
- on May 8, 2026
What the analyst said
RBC Capital analyst Srini Pajjuri initiates coverage on ASML (NASDAQ: ASML) with an Outperform rating and a price target of $1,550.00.
“ASML outperformed the SOX index in 2025 on improving wafer fab equipment (WFE) spending and secular EUV growth. We expect these trends to continue into 2026/27 driven by strong GenAI demand.
DRAM supply is extremely tight, EUV intensity is increasing, and Samsung’s potential rebound in HBM4 is a meaningful catalyst, in our view.
In Logic, GenAI accelerators are adopting more advanced nodes and foundry competition is re-emerging. We believe China is largely de-risked and expect Services to sustain double-digit growth.
Valuation premium over US peers has compressed, which we think makes risk/reward attractive. Initiate at Outperform.”
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Where the price stands
ASML trades at $1,357. The 2 analysts who set a target in the last 3 months range from $2,100 to $2,350, with a median of $2,225. This $1,550 target is 30% below the median, the lowest on the Street.
Since the note ASML has moved +7% (from $1,270). 12-month window: day 295 of 365, closes on January 14, 2027.
Track record
This call✓ Target reached on May 8, 2026, 4 months after the note.
Firm track recordRBC Capital: 47% of its 17 targets at least a year old were reached within 12 months (#26 of 26 firms). Accuracy ranking →
RBC Capital on ASML
RBC Capital price targets on ASML
6 calls from January 14, 2026 to October 7, 2026. The target went from $1,550 to $2,100 (+35%). The rating stayed Buy.
- October 7, 2026Kept the $2,100 targetBuy$2,100
- July 16, 2026Target raised from $2,000 (+5%)Buy$2,100
- July 14, 2026Target raised from $1,700 (+18%)Buy$2,000
- April 15, 2026Target raised from $1,625 (+5%)Buy$1,700
- January 29, 2026Target raised from $1,550 (+5%)Buy$1,625
- January 14, 2026 This noteEarliest call shownBuy$1,550
