ASML price target raised to $1,250 from $1,000 at Argus

Argus raised the firm’s price target on ASML to $1,250 from $1,000 and keeps a Buy rating on the shares. The stock has sold off following Q2 results despite topping expectations on revenue and earnings on commentary signaling the potential for additional tightening on semiconductor exports and look “favorably valued” at current prices, the analyst tells investors in a research note. Argus adds that ASML’s comprehensive product portfolio is aligned with customers’ roadmaps, providing cost effective solutions in support of all applications from leading edge to mature nodes.