ASML Holding N.V. shares opened at $1,687.43 on Friday and fell approximately 5.5% during the session, even as Cantor Fitzgerald reaffirmed its Overweight rating and EUR2,500 price target. Based on the stock’s price near $1,687, the target represents roughly 70% potential upside, according to the firm, which continues to list ASML as a Top Pick.

ASML’s 12-month trading range extends from $798.51 to $1,999.96. Its market capitalization is estimated at approximately $617 billion to $663 billion, depending on the source.

Cantor Fitzgerald raised its earnings-per-share estimates for every forecast period after conducting recent checks on lithography units. The firm’s stretch-goal projections now place EPS growth 13% above consensus in 2026, 16% above consensus in 2027, 18% in 2028, and 20% in 2029.

The firm expects lithography intensity to increase during the second half of 2027. It does not expect 3D DRAM to enter the market for at least another decade. Cantor Fitzgerald also said that 6F2/4F2 investments have accelerated spending by DRAM manufacturers on both low-NA and high-NA technologies.

Cantor Fitzgerald considers the regulatory risk associated with the MATCH Act to be minimal. The firm’s assessment addresses one potential concern that investors had been monitoring. ASML’s Capital Markets Day is scheduled for June 2027 and could provide an opportunity for the company to issue updated guidance and long-term targets.

Institutional positions increase

Corient Private Wealth LP raised its ASML position by 8.5% during the second quarter, adding 17,214 units. The transaction brought its total holding to 218,728 units, valued at approximately $435 million. Institutional investors collectively own about 26% of the company.

Other investment firms also increased their exposure. Binnacle Investments raised its stake by 78.9% during the second quarter, while Resources Management Corp CT ADV increased its position by 1,150% in the fourth quarter, although that increase came from a very small initial base.

Analyst estimates and company results

Several analysts have recently raised their ASML targets. Sanford C. Bernstein increased its price target from $1,971 to $2,623 while maintaining an Outperform rating. JPMorgan raised its target from $2,200 to $2,400 and kept its Overweight rating.

The average price target across tracked analysts is $1,970.33, and the consensus rating is Moderate Buy. Of the 32 analysts tracked, four assign a Strong Buy rating, 21 rate the stock Buy, four have a Hold rating, and three rate it Sell. These targets and ratings are analyst estimates, while the second-quarter figures below describe the company’s reported past-period performance.

ASML reported second-quarter earnings per share of $8.65 on revenue of $10.62 billion. The company posted a net margin of 30.11% and return on equity of 52.71%. Full-year EPS consensus is $44.99.

ASML also recently paid a quarterly dividend of $2.1507 per unit, equivalent to an annualized yield of approximately 0.5%. Separately, Freedom Broker raised its price target for ASML to $2,100 from $1,650, citing customer demand that exceeds current production capacity.

Source: CoinCentral