Movement Alert|ASML Rises 3.11% in Pre-Market Trading, ING Raises Target Price to 1700 EUR

Market Focus06-02 20:27

On June 2, ASML rose 3.11% in pre-market trading, trading at approximately $1679.48/share, with trading volume of $30.33 million.

On the news front, ING Bank raised its target price for ASML's European-listed shares from 1500 EUR to 1700 EUR. Previously, CITIC Securities also raised its target price for ASML to $1750, maintaining a Buy rating, citing the company's dominant position in lithography equipment. CITIC noted that while Q1 guidance was relatively soft, ASML raised its full-year revenue guidance to 36-40 billion EUR, with growth weighted toward the second half.

The company's capacity plans show Low NA EUV output expected to reach at least 60 units and 80 units in the coming two years respectively. Additionally, ASML recently announced a memorandum of understanding with India's Tata Group to invest $11 billion in building a wafer fabrication facility in India, further expanding its global footprint. The convergence of multiple analyst upgrades, raised guidance, and strategic partnerships drove pre-market strength.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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