Bank of America Securities Raises PT on ​ASML Holding (ASML), Keeps a Buy Rating

​ASML Holding N.V. (NASDAQ:ASML) is one of the Best Technology Stocks to Invest in for the Long Term. On September 19, Bank of America Securities raised the price target on ASML Holding N.V. (NASDAQ:ASML) from EUR724 to EUR941, while maintaining a Buy rating on the stock.

​The rating comes after the tech giant Nvidia announced its partnership with Intel, where Intel is investing $5 billion in Nvidia and will supply custom CPUs for AI infrastructure. The firm believes that this partnership will make Intel more competitive in data centers and PCs and is expected to benefit ASML Holding N.V. (NASDAQ:ASML), which sells vital lithography machines used in chip production. The analyst also raised the company’s 2027 revenue forecast to EUR39.2 billion, up from EUR35.8 billion. This reflects expected higher sales of extreme ultraviolet and high-NA systems to Intel and SK Hynix.

​ASML Holding N.V. (NASDAQ:ASML) develops and sells advanced semiconductor equipment used to make computer chips.

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Disclosure: None. This article is originally published at Insider Monkey.