Barclays Raises ASML Price Target to €2,000

Barclays analyst Simon Coles raised the price target on ASML Holding NV (ASML:NA) (NASDAQ: ASML) to EUR2,000.00 (from EUR1,900.00) while maintaining a Overweight rating.

“We expect more positive commentary from ASML and believe it could tighten its 2026 guidance range higher again this quarter (but modestly).

We expect commentary around capacity in 2027 to further improve, but a commitment to 90(+) may not come until later in the year, in our view, as ASML waits for the remaining orders to confirm such a ramp.

We showed that hiring data indicates some momentum on ramping already (see Ramping up supply, 4/6/26) and the company has flexibility to squeeze capacity further (see On the road with CFO, 21/5/26).

Positive capex commentary from customers after ASML reports should also help momentum/sentiment further. We increase estimates for DUV immersion and now model €52bn of revenue in 2027.

Our PT moves to €2000 from €1900 on our higher estimates.”

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