ASML Holding N.V.

(NASDAQ Global Select)
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Bullish +75

Citi raises target to EUR 2,300 for ASML Holding stock

Analyst upgrade Earnings report AI-generated analysis

📈 ASML Holding reported third-quarter net sales of EUR 11.662 billion, a significant increase from EUR 9.326 billion in the second quarter.

💰 Gross margins expanded to 57.50 percent in Q3, up from 54.00 percent previously, demonstrating improved profitability.

📊 Net income surged to EUR 4.960 billion in the third quarter compared to EUR 2.918 billion in the prior quarter.

🚀 Basic earnings per share rose sharply from EUR 7.59 to EUR 12.95, reflecting strong operational leverage.

🏆 Citi raised its price target for ASML Holding from EUR 2,200 to EUR 2,300 following the strong Q3 results.

📅 The new Citi target of EUR 2,300 represents approximately 54 percent upside from the current trading price.

🔮 ASML expects full-year 2026 sales to range between EUR 44 billion and EUR 45 billion with gross margins near 56 percent.

📦 Customer demand for orders in 2029 and 2030 exceeds planned supply availability for the 2027 and 2028 periods.

💵 The interim dividend of EUR 1.88 per share is scheduled to be paid on November 4, 2026.

📈 ASML's market capitalization reached EUR 575.9 billion as of October 19, 2026.

Bullish Signals
  • ASML Holding reported third-quarter net sales of EUR 11.662 billion, a substantial increase from the previous quarter.
  • Gross margins expanded significantly to 57.50 percent in Q3, up from 54.00 percent in the prior period.
  • Net income surged to EUR 4.960 billion in the third quarter compared to EUR 2.918 billion in the second quarter.
  • Basic earnings per share rose sharply from EUR 7.59 to EUR 12.95, indicating strong profitability growth.
  • Citi raised its price target for ASML Holding from EUR 2,200 to EUR 2,300 following the strong Q3 performance.
  • The company expects full-year 2026 sales between EUR 44 billion and EUR 45 billion with gross margins around 56 percent.
  • Customer demand for orders in 2029 and 2030 exceeds planned supply availability for the 2027 and 2028 periods, indicating strong backlog visibility.
Full Analysis
ASML Holding reported robust third-quarter financial results, driving a significant analyst upgrade from Citi. The Dutch semiconductor equipment manufacturer posted third-quarter net sales of EUR 11.662 billion, representing substantial growth from the previous quarter's EUR 9.326 billion. Gross margins expanded notably to 57.50 percent from 54.00 percent, while net income surged to EUR 4.960 billion compared to EUR 2.918 billion in the prior period. Basic earnings per share increased sharply to EUR 12.95 from EUR 7.59, reflecting strong operational performance and profitability improvements. The company's installed-base management sales reached EUR 3.289 billion, underscoring continued demand for its advanced lithography solutions. These results provided a stronger operating foundation that directly influenced Citi's decision to raise its price target. Following the earnings release, Citi raised its price target for ASML Holding from EUR 2,200 to EUR 2,300 on October 15, 2026, while maintaining a Buy rating. The new target implies significant upside potential relative to the stock's trading price of approximately EUR 1,491.70 as of October 19, 2026. ASML also provided forward guidance expecting full-year 2026 sales between EUR 44 billion and EUR 45 billion with gross margins around 56 percent. Management indicated that customer demand for orders extending into 2029 and 2030 exceeds planned supply availability for the 2027 and 2028 periods, highlighting a constrained supply environment. The company's market capitalization stands at EUR 575.9 billion, with an interim dividend of EUR 1.88 per share payable on November 4, 2026. This combination of strong current earnings, margin expansion, and elevated future demand supports the bullish analyst sentiment.