ASML warns EU on bureaucracy, JPMorgan raises target to $2,200

ASML CEO Christophe Fouquet supported most European Commission proposals to strengthen regional tech sovereignty on June 5. He cautioned against Commission plans to directly steer or monitor strategic, state-aided projects via a LinkedIn post.

Fouquet argued that industry leaders should manage these initiatives to ensure they meet market needs. He warned that direct government oversight risks creating excessive bureaucracy. The CEO emphasized that the Commission must rely on private sector expertise rather than direct intervention.

JPMorgan raised its ASML price target to $2,200 from $1,813. The bank maintained a Buy rating, citing a strong long-term outlook for the company.