Still riding the ASML wave
BofA Securities just hit the repeat button on ASML: same Buy rating, same €1,598 price target. In other words, the firm looked at ASML’s very expensive-looking stock and said, “Yep, still think this thing has gas in the tank.”
Why they’re not backing away
The bank nudged its 2026 revenue growth forecast up to the top end of ASML’s guidance at 19.8%, helped by stronger pricing on immersion tools. It’s also still modeling more than 60 EUV units in 2026 and more than 80 in 2027, which is a pretty loud way of saying demand for the company’s lithography gear isn’t exactly falling off a cliff.
The annoying little catch
ASML isn’t exactly cheap. The stock is trading around $1,518, near its 52-week high of $1,547, after ripping 124% over the past year. BofA’s own setup uses a 30x 2027 EV/EBITDA multiple, which sits in the historical range — but still leaves you with a valuation that makes even the bulls squint a little.
Why you should care
For investors, this is less about a fresh catalyst and more about validation. When a major bank sticks with a high target right after earnings, it can help keep the “quality compounder” narrative alive — even if the stock already looks like it’s wearing designer valuation shoes.
Big picture: ASML remains one of the market’s favorite picks-and-shovels names in semis, and BofA just reinforced the idea that the long-term story is still intact, pricey label and all.