On Tuesday, BNP Paribas (OTC:BNPQY) Exane reinstated coverage on ASML Holding NV (AS:ASML:NA) (NASDAQ: ASML) with an Outperform rating and a price target of EUR 817.00. The firm highlighted the company's strong position in the semiconductor industry and its potential for significant revenue growth by 2030.
The analyst from BNP Paribas Exane expressed confidence in ASML's ability to achieve the upper end of its 2030 guidance, anticipating approximately 6% upside to the consensus revenues for that year. The firm emphasized ASML's unique and defensible position within the semiconductor sector, referring to it as the "widest moat in semis" and the "brains behind the brains of AI."
ASML, known for its advanced lithography systems which are essential for semiconductor manufacturing, was described as a long-term structural winner by the analyst. The firm's positive outlook is based on the expectation that if ASML maintains its current price-to-earnings (PE) multiple of 25 times, the stock could potentially double in value within the next four years.
The coverage reinstatement by BNP Paribas Exane comes with a strong vote of confidence in ASML's market position and its prospects for growth. The firm's Outperform rating signals a bullish stance on the stock's future performance.
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