JPMorgan raised the firm’s price target on ASML to $1,196 from $1,026 and keeps an Overweight rating on the shares. The company’s orders likely to be strong in Q1, the analyst tells investors in a research note. On the back of multiple data points in the supply chain that the N2 process is being brought forward at TSMC, the firm raised its Q1 order estimate to EUR 5B, 10.5% ahead of consensus expectations. It placed ASML shares on “Positive Catalyst Watch” into the Q1 results on April 17.
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