ASML: Oddo BHFraises target price

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on ASML shares, raising its target price for them from E900 to E1100, representing an additional upside potential of 20%, in the wake of forecasts raised by 11% for 2025.


Orders should remain buoyant over the coming quarters, which should gradually 'convince' the 2025 consensus to look for the top end of the E30bn/E40bn sales range, whereas it has just returned to the middle of the range, it judges.

The broker acknowledges that the valuation of the Dutch equipment supplier to the chip industry may seem high, trading at a 2024 P/E of 50x, while noting that this is 30x for 2025 and 27x for 2026, due to expected growth.


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