Bernstein Reiterates Outperform Rating on ASML (January 26)
Bernstein SocGen Group analyst David Dai reiterated an Outperform rating and $1,642.00 price target on ASML (NASDAQ: ASML).
“Will there be capacity constraint? ASML will soon report earnings on Wednesday 28th of January. We preview here with the latest data points and buy side expectations.
We believe results are likely to beat, but order strength is more important. Import data suggests ASML could report EUR 9.7Bn in revenue, vs Cons 9.5Bn.
Of note: strong import from China at EUR 3.27Bn in Q4, the highest level on record.
However, it’s more important to watch the 4Q booking number as it is the last booking they will report.
We expect a very strong quarter as both advanced logic (TSMC) and DRAM raised their 2026 expectations in 4Q25.
Further, we believe China has also put in a big order to support their leading edge expansion (ASML: Don’t forget DUV).
Buy side expectations for booking has gone up to at least €8bn but we think there is upside.”
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