ASML Executes €79M Buyback and BofA Raises Target to $2,345
ASML•Bank of America raised ASML’s price target to $2,345, implying a 22% upside, citing higher EUV forecasts and a fully booked 2027 order book ahead of Q2 results on July 15. ASML repurchased 48,635 shares over five days for €79 million at a €1,635 average under its current buyback program.
1. BofA Hikes Price Target to $2,345
Bank of America raised its ASML price target from $2,268 to $2,345 while maintaining a Buy rating. The firm cited stronger-than-expected forecasts for EUV unit shipments and growing confidence in ASML’s earnings power through 2028, and it expects the order book to be fully booked for 2027 by the July 15 Q2 report.
2. Wells Fargo Lifts Target and Maintains Overweight
Wells Fargo bumped its ASML price target to $2,200 from $1,750 and kept an Overweight rating. The firm pointed to another anticipated quarter of positive results in the semiconductor capital equipment sector, underpinned by robust demand trends among leading chipmakers.
3. Share Buyback Program Activity
Under its current buyback program announced January 28, ASML repurchased 9,702 shares at €1,635.95 on June 15, 9,834 shares at €1,613.96 on June 16, 9,726 at €1,632.01 on June 17, 9,464 at €1,677.07 on June 18 and 9,609 at €1,651.89 on June 19. Total repurchases over these five days amounted to 48,635 shares for €79.3 million.
