Applied Materials Outpaces ASML as UBS Lifts ASML Target to €1,900
AMAT•ASML shares climbed 3.5% after UBS reinstated it as the top European semiconductor pick, raising its price target to €1,900 from €1,600 and boosting 2027/28 EPS estimates to €48.42 and €59.73. Applied Materials has gained between 48% and 70% year-to-date, outpacing ASML’s 40% rise.
1. Sector Upgrade Boosts Applied Materials Outlook
UBS reinstated ASML as top European semiconductor pick, raising its price target to €1,900 and boosting its 2027 and 2028 EPS estimates to €48.42 and €59.73. ASML’s forward P/E premium has narrowed to 6% from its 10-year average of 84%, while Applied Materials shares have gained 48%–70% year-to-date. This peer momentum and valuation convergence may drive a further re-rating of Applied Materials stock.
