Wells Fargo Raises ASML (ASML) Price Target to $1,140 After Earnings Beat

ASML Holding N.V. (NASDAQ:ASML) is one of the AI Stocks Making Moves on Wall Street. On October 16, Wells Fargo raised its price target on the stock to $1,140.00 from $1,105.00 while maintaining an “Overweight” rating. The price target raise follows ASML’s quarterly earnings beat and raised outlook.

According to the firm, ASML delivered a relatively clean Q3 print, with bookings that were largely in line and extreme ultraviolet (EUV) lithography system orders at their highest levels since Q4 2023.

The firm’s analyst Joseph Quatrochi shared that ASML plans to wait until January to provide guidance for 2026. Improved demand visibility and support for revenue growth exceeding low single digits are anticipated to be key drivers of the shares.

Wells Fargo has also slightly increased its estimates for ASML. It maintains a projection of an estimated 4% year-over-year revenue growth for 2026. Moreover, calendar year estimates are now €32.5 billion in revenue and €25.03 in earnings per share for 2025, €33.7 billion and €25.99 for 2026, and €37.9 billion and €31.42 for 2027.

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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