Goldman Sachs reiterates a Buy rating on ASML and raises the 12-month price target to €2,000, citing increased memory capex and stronger demand for leading-edge semiconductors.
Key Takeaways
- 1.ASML remains a Buy with an increased 12M PT of €2,000, driven by higher memory capex and AI-related infrastructure demand.
- 2.FY27-30 topline and EBIT estimates are raised by 5-9% reflecting stronger leading-edge semiconductor demand.
- 3.Memory capex outlook is significantly increased, benefiting ASML due to high memory exposure and long lead times for EUV tools.
Table of Contents
- Key themes and datapoints
- Changes to estimates
- Valuation and key risks
- Disclosure Appendix
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
- Ratings, coverage universe and related definitions
Document Preview
Access the Full Report
Get unlimited access to institutional research reports with a 14-day free trial.
Authors
Alexander DuvalAnant JakharAyo Odunaiya
Securities
ASML.AS
Themes
AI Infrastructure BuildoutEUV AdoptionMemory Capex Expansion
Regions
EuropeNetherlands