Analysts raise price targets on ASML after a 4.8% gain driven by AI infrastructure demand and easing Middle East tensions.
ASML Holding (NASDAQ:ASML) surged 4.8% on Thursday, leading a tech sector rebound as the STOXX 600 climbed 0.8% to 640.88 points. The rally followed reports that China may allow domestic AI firms limited access to Nvidia’s H200 chips, boosting demand for semiconductor equipment makers like ASML.
Analysts raised price targets this week, with Bernstein lifting its estimate from $1,971 to $2,623 and Morgan Stanley increasing its target from EUR 1,600 to EUR 1,830. Both firms maintained Buy ratings, citing strong earnings expectations ahead of ASML’s July 15 release.
The stock has gained 4% over the past month, with Wall Street projecting over 15% upside from current levels. Peers Siltronic and Soitec also rallied, rising 13.4% and 5.9%, respectively.