Wells Fargo analyst Joe Quatrochi lowered the firm’s price target on ASML to $790 from $1,000 and keeps an Overweight rating on the shares. While some will continue to debate whether 2025 is derisked enough, the firm thinks expectations are now reset. Focus now turns to CMD on November 14 and ASML’s confidence in 2026 recovery and no structural change to positioning/story, Wells says.
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