What the analyst said
Bernstein SocGen Group analyst David Dai raised the price target on ASML (NASDAQ: ASML) to $1,971.00 (from $1,911.00) while maintaining an Outperform rating.
“Based on our estimates, the DRAM capacity build-out accelerates from 145k additional wafers per month in 2025 to 245k in 2026, and further accelerates to 330/435k in 2027/28.
During 2026-2028, the top 3 DRAM makers are adding around 1mn monthly wafer capacity for equipment, bringing the industry capacity to 2.58mn wafers per month. This brings significant growth to ASML.
We estimate that for every 100k greenfield DRAM capacity requires 6 EUV machines for 1c node, and probably will require 7-8 in 1d node.
Upgrades from 1a to 1c would require 3 EUV machines for every 100k capacity.
Based on the capacity additions, we forecast ASML to ship 44 EUV machines to DRAM in 2028, representing 45% of ASML’s EUV shipment.
This is more than double from 18 units in 2025, or 34% of ASML’s EUV shipment then. We raise ASML EUV shipment in 2028 from 79 to 92 units, and EPS from EUR 45.3 to 50.4.
PT is raised to €1,700 (from €1,600) based on the same 40x multiple. ASML remains our top pick for the EU Semis sector.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
Where the price stands
ASML trades at $1,425. 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 $1,971 target is 11% below the median, the lowest on the Street.
Since the note ASML has moved +2% (from $1,394). 12-month window: day 226 of 365, closes on March 26, 2027.
Track record
This call✓ Target reached on June 30, 2026, 3 months after the note.
Firm track recordBernstein: 80% of its 25 targets at least a year old were reached within 12 months (#11 of 26 firms). Accuracy ranking →
Bernstein on ASML
Bernstein price targets on ASML
8 calls from January 4, 2026 to July 16, 2026. The target went from $1,528 to $2,859 (+87%). The rating stayed Buy.
- July 16, 2026Target raised from $2,623 (+9%)Buy$2,859
- July 6, 2026Target raised from $1,971 (+33%)Buy$2,623
- March 26, 2026 This noteTarget raised from $1,911 (+3%)Buy$1,971
- January 29, 2026Target raised from $1,642 (+16%)Buy$1,911
- January 26, 2026Kept the $1,642 targetBuy$1,642
- January 22, 2026Target raised from $1,528 (+7%)Buy$1,642
- January 16, 2026Kept the $1,528 targetBuy$1,528
- January 4, 2026Earliest call shownBuy$1,528
