Morgan Stanley raised its price target for ASML Holding NV to €1,660. The previous price target was €1,400. The bank maintained its Overweight rating for the semiconductor equipment supplier.
Analysts expect ASML to ship approximately 90 extreme ultraviolet (EUV) lithography tools next year. Strong demand for these advanced systems drives the positive outlook.
Morgan Stanley projects ASML will deliver 104 tool sets by 2028. This forecast includes a mix of low and high numerical aperture (NA) systems.
Long-term agreements in the memory sector further support the bank's confidence.