Analysts at Citi and Bernstein are both bullish on ASML Holdings (ASML), with the firms pointing to a potential upside in the stock in notes on Monday.
Citi opened a 30-day positive catalyst watch on the stock, flagging its results announcement as the catalyst.
The bank, which maintained a Buy rating on ASML, said they expect management to reiterate their expectations of 2025 revenue in the top half of its EUR30 billion to EUR40 billion range (consensus EUR33 billion) and to explain their visibility into order trajectory improving over 2024.
Meanwhile, Bernstein raised ASML to Outperform, saying they believe the stock is looking increasingly attractively priced compared to its semicap peers. The firm also lifted its price target for the stock to $869 from $664 per share.
"ASML’s share price has only appreciated 24% over the last twelve months (vs. 48% for KLA, AMAT and 70%+ for TEL, LAM), we believe ASML’s comparatively strong EPS growth for 2022-25 makes them attractively priced, and on that basis we upgrade to Outperform," explained analysts at Bernstein.