ASML price target lowered to EUR 1,150 from EUR 1,250 at Citi

Citi lowered the firm’s price target on ASML to EUR 1,150 from EUR 1,250 and keeps a Buy rating on the shares. The firm says ASML fell out of favor with investors this summer. While a sluggish cycle and Intel’s capex cuts combine to lower the outlook for 2025 wafer fab equipment, ASML is still growing faster than peers due to leading edge logic exposure at TSMC, the analyst tells investors in a research note. Beyond the near-term, the firm thinks ASML’s long-term outlook is intact, with upside from artificial intelligence and a strong increase in tool productivity intensity.