HSBC Raises ASML Price Target to EUR1,018 Ahead of September-Quarter Results

ASML Holding N.V. (NASDAQ:ASML) is one of the Trending AI Stocks on Wall Street’s Radar. On October 6, HSBC analyst Adithya Metuku raised the price target on the stock to EUR1,018 (from EUR809.00) while maintaining a Buy rating. The rating comes ahead of the company’s upcoming September quarter results on October 15.

The firm anticipates ASML results and December quarter guidance to be broadly in line with expectations, with management likely to discuss demand trends into 2026. It also believes that ASML can deliver 6% revenue growth next year, with its revenue and operating income estimates running 3%-5% ahead of consensus forecasts.

Overall, the firm expressed optiomism on the stock, reflecting on strong demand signals and DRAM capacity expansion.

“ASML reports Sep-Q results on the 15^th of October. We expect a broadly in line set of Sep-Q results and Dec-Q guide. We expect management to provide colour on demand trends into 2026. Recent positive newsflow supports our view that ASML can deliver revenue growth (HSBCe 6% y-o-y) in 2026. Our 2026 revenue and op. income estimates are 3%-5% ahead of consensus. Our analysis of backlog suggests that ASML needs EUR 7.8bn in orders in 2H25 to meet our forecasts and hence we would view Sep-Q orders of cEUR4bn as supportive of our 2026 expectations. In this note, we also provide our thoughts into SEMICON West and analysis around upside associated with recent newsflow on DRAM capacity deployments. Changing narrative from no-growth to growth in 2026 and rising confidence in outer year demand can drive a valuation re-rating. We raise our TP to EUR 1,018.”

ASML Holding N.V. (NASDAQ:ASML) develops and sells advanced semiconductor equipment, including lithography, metrology, and inspection systems for chip manufacturing.

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