ASML price target raised to $1,207 from $1,202 at JPMorgan

JPMorgan raised the firm’s price target on ASML to $1,207 from $1,202 and keeps an Overweight rating on the shares. The firm says the investor base “has suddenly gotten very bearish on ASML through the summer.” While there are some reasons for this, namely the Intel capex cut, the slow recovery of the consumer semiconductor market and worries about China restrictions on semi cap companies. the long-term bear thesis on ASML is overstated, the analyst tells investors in a research note. JPMorgan says litho intensity in memory should rise because the growth memory is high bandwidth memory which is litho centric.