ASML price target lowered to $767 from $815 at Bernstein

TipRanks

Sat, Nov 30, 2024, 4:05 AM 1 min read

Bernstein lowered the firm’s price target on ASML (ASML) to $767 from $815 and keeps an Outperform rating on the shares. The firm took down its 2025 wafer fab equipment estimate to $107B, down 1% year-over-year, from $115B, and 2026 spending estimate to $116B from $122B. The WFE cut reflects lower China spending given potential U.S. restrictions and a weaker outlook on NAND and logic, the analyst tells investors in a research note. Bernstein updated its models to reflect the new WFE forecasts.