Goldman Sachs raised its price target for ASML Holding NV to €1,600 from €1,570.
The investment bank maintains a Buy rating on the semiconductor equipment manufacturer.
Accelerating Artificial Intelligence growth drives demand for the advanced lithography systems ASML exclusively provides.
Analysts identified AI expansion, Chinese market exposure, and increased EUV lithography layers as primary value drivers.
ASML shares generated a 100% return over the past year.
Goldman Sachs argues the stock trades at an unjustified discount compared to global peers.