Investing.com — Bernstein raised its price target on ASML Holding NV to \u20ac2,500 from \u20ac2,300 in a note Thursday, describing the company’s second-quarter 2026 results as “triple happiness” following a beat and raise across the top line, capacity and margins. <\/p>\n
Analyst David Dai maintained an Outperform rating on the stock, identifying three major upside drivers. <\/p>\n
First, ASML plans to boost Low NA EUV and ArFi capacity by 30% each year for 2027 and 2028, with DUV capacity of 220 in 2028 coming in above expectations. <\/p>\n
Second, Bernstein sees pricing upside, estimating ASML’s EUV average selling price will rise 10% in 2027 based on management commentary that Low NA EUV throughput is up 45% year-over-year while capacity is up 30%, with another high-single-digit percentage increase expected in 2028. <\/p>\n
Third, the firm cited margin uplift, noting ASML’s guided margin for the second half of 2026 is 56%, above consensus at 52.6%. <\/p>\n
Bernstein raised its 2027\/2028 revenue estimates to \u20ac56 billion and \u20ac72 billion, with EPS estimates lifted to \u20ac53.6 and \u20ac75.3, 37% above consensus for 2028. <\/p>\n
Elsewhere, Barclays also raised its price target on the stock to \u20ac2,400 from \u20ac2,000, reiterating an Overweight rating. <\/p>\n
Analyst Simon Coles said gross margins were “the major positive this quarter,” driven by China DUV recovery, improving EUV pricing and a strong upgrades business. <\/p>\n
Barclays increased its revenue estimates by 11% in 2026 and 5% in 2027, noting ASML shares remain attractive despite appreciating roughly 150% since September 2025. <\/p>\n
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