ASML Stock Surges 6% on Analyst Upgrades and Strong Earnings Beat
ASML Holding NV shares rallied 6.7% to $1,273.88 Friday as trading volume exceeded the daily average by 8%. The semiconductor equipment Maker delivered a third-quarter earnings beat of $6.41 per share versus $6.27 estimates, though revenue slightly missed expectations at $8.8 billion.
Wall Street analysts responded with multiple rating upgrades, including Bernstein's MOVE from Hold to Buy and HSBC's Strong Buy initiation. The consensus now stands at Moderate Buy with a $1,270.67 average price target - some bullish forecasts reach as high as $1,500.
Growth catalysts include ASML's cutting-edge High-NA EUV systems priced at $380 million each, with adoption accelerating among chipmakers like Intel and Samsung. The company also raised its quarterly dividend to $1.857 per share, representing a 0.6% annualized yield.