ASML price target raised to $775 from $590 at Argus

Argus analyst Jim Kelleher raised the firm’s price target on ASML to $775 from $590 and keeps a Buy rating on the shares after its better than expected Q4 results. The company’s revenue recognition has been impacted by timing of "fast-shipment" systems, and as supply scarcity continues to moderate, additions to productive capacity along with its improved ability to fulfill orders should drive faster revenue growth, the analyst tells investors in a research note. ASML also offers unmatched leadership in extreme ultraviolet and deep ultraviolet lithography, while its stock is "favorable valued", Argus added.