ASML Holding NV (0QB8) was upgraded to a Buy Rating at Mizuho SecuritiesThe analyst comments "We upgrade ASML to Buy rating from Neutral rating as we now expect ASML’s EPS to grow 6% YoY in 2026 and 21% YoY in 2027, driven by 1) strong WFE spending from TSMC, 2) rising DRAM WFE spending, 3) stabilized WFE spending from Intel, and 4) decent China WFE spending outlook. We forecast EUV demand growth into 2026 and 2027 due to better-than-expected demand outlook from Samsung and Intel. We foresee EUV demand increase from Samsung in 2026 due to 1) technology migration and capacity expansion for 1c DRAM and N2 logic, 2) equipment move-in for US Taylor fab with monthly capacity plan of 7k in 2026 and 15k in 2027-28. In addition, Intel’s capex is likely to be stabilized in 2026 with stable EUV demand into 2026-27. Intel’s 18A capacity expansion for internal CPU products should persist into 2026, and we expect EUV installation for 14A RD capacity from 2H26. Intel is working on potential 14A foundry business with Apple and Nvidia. Moreover, we forecast China WFE market to grow 13% YoY in 2026 due to more aggressive capacity expansion plan for DRAM and advanced nodes in logic along with AI localization trend. We estimate China business for ASML to grow 4% YoY in 2026. We raise price objective to EUR930 (30x 2027E P/E) from EUR650 (25x 2026-27E P/E."