ASML shares climbed 5% in Monday pre-market trading following a Bernstein upgrade. Analyst David Dai maintained a Buy rating for the stock. He raised the price target by 33% to $2,623.
The new target suggests a potential upside of more than 48%. Bernstein expects artificial intelligence demand to drive significant sales growth.
Dai projects ASML will expand advanced logic and DRAM capacity to unprecedented levels. The upgrade occurred as the broader semiconductor sector stabilized during pre-market trading.