Degroof Petercam on Thursday increased the price target for ASML from 840.00 to 880.00 euros with an unchanged buy recommendation. This emerged from a report by analyst Michael Roeg.
“The tone during the explanation of the outlook for 2024 and 2025 was positive,” said Roeg. The analyst felt the fourth-quarter figures removed risks for 2025. ASML expects a comparable turnover for 2024 as in 2023, but noted that this is a conservative outlook. There are some positive signals visible, according to ASML.
Although a recovery is expected in 2025, Roeg does not rule out that part of it may already become visible in the second half of this year.
Since there will be a recovery in 2025, orders should already be placed with ASML in this first half of the year, as the lead time is 12 to 18 months, according to Roeg. “And the fourth quarter was a good start,” the analyst argued, pointing to the 9.2 billion euros in orders that ASML received.
ASML shares rose by one percent to 783.50 euros on Thursday.
