RBC Capital Increases ASML Price Target to $2,100
RBC Capital analyst Srini Pajjuri raised the price target on ASML Inc.
(NASDAQ: ASML) to $2,100 (from $2,000) while maintaining an Outperform rating.
“Unit demand strong; ASML’s results and outlook were above our recent expectations.
Management now sees ~65/85 low-NA units for 2026/27 vs at least 60/80 previously, and is investigating another 30% capacity expansion for 2028.
While the 2027 number may have fallen short of more bullish investor expectation for 90 units, we believe there is still room for upside.
In addition, mix is set to improve next year and management also sees “more flexibility” in (like-for-like) pricing.
Services continues to fare well and Immersion demand is tracking ahead, both tailwinds to gross margins.
We are raising estimates and expect revenue & margin momentum to sustain through 2028, and see room for further upside from potential pricing actions.
We raise PT from $2,000 to $2,100 and reiterate Outperform.”
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