ASML Price Targets Raised to €1,600 as Company Upgrades 2026 Growth
UBS and Deutsche Bank raised ASML price targets to €1,600 after it lifted 2026 revenue growth guidance to 10–22% from 4–19% and forecast shipments of at least 60 low-NA EUV tools in 2026 and 80 in 2027. ASML’s P/E premium over US peers has fallen to its lowest level since 2014.
1. Analyst Price Target Increases
Analysts at UBS and Deutsche Bank raised their ASML price objectives to €1,600 from €1,500 and reaffirmed Buy recommendations following stronger-than-expected quarterly results. Both banks also boosted their EPS estimates for 2026–28, with UBS projecting 2027 EPS to exceed consensus by 10–15%.
2. Upgraded Revenue and Shipments Guidance
ASML lifted its fiscal 2026 revenue growth outlook to 10–22% year-on-year, up from a prior 4–19% range, citing robust demand from advanced logic and memory customers. The company forecasts at least 60 low-numerical-aperture EUV tool deliveries in 2026 and 80 in 2027, while planning next-generation EUV F-platform throughput gains of 13–18% over current models.
3. Valuation Premium Compression
ASML’s forward price-to-earnings multiple stands at roughly 37x, marking its narrowest premium to US chip-equipment peers since 2014 and the first discount to Lam Research in 14 years. While ASML shares have climbed 36% year-to-date on AI-driven data center demand, Applied Materials and Lam Research have outperformed, rising over 50%.