JP Morgan raised its price target for ASML Holding to $2200. This new target increases the previous valuation of $1813. The investment bank also reiterated its Overweight rating on the stock.
Surging global demand for artificial intelligence infrastructure drives significant orders for ASML's advanced lithography equipment. Analysts believe investors underestimate the volume of tools ASML will sell to major chipmakers over the next two years.
ASML is now one of Europe's most valuable technology companies by market capitalization. This growth follows a global rush to construct new AI data centers.