RBC Capital Raises ASML Price Target to $1,700
RBC Capital analyst Mitch Steves raised the price target on ASML (NASDAQ: ASML) to $1,700.00 (from $1,625.00) while maintaining an Outperform rating.
“ASML’s 1Q results were better while 2Q outlook was below consensus. China demand, while in line with management’s projections, is tracking below our expectations.
Nevertheless, management raised FY26 revenue outlook by 4% on the back of strong Memory and Advanced Logic demand.
EUV demand is outpacing supply and output projections (60 tools in 2026, >80 in 2027) point to strong growth in 2027. Services is tracking better and China (down >50% q/q) is mostly de-risked.
We raise estimates and expect revenue momentum to sustain through 2027/28 driven by GenAI, Memory tightness, and growing Foundry competition. Reiterate Outperform.”
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