ASML price target raised to EUR 880 from EUR 840 at Jefferies

Jefferies analyst Janardan Menon raised the firm’s price target on ASML (ASML) to EUR 880 from EUR 840 and keeps a Buy rating on the shares. The firm forecasts the semiconductor cycle to plateau through 2025 after a peak in the first half, and says upside potential for most chip stocks “should be modest this year.” Jefferies expects auto and industrial semi names to outperform as the market prices in a post-inventory correction rebound into fiscal 2026. Jefferies adjusted ratings European semis as part of its 2025 outlook. Infineon is the firm’s top pick, followed by ASMI.