HSBC initiated coverage of ASML shares on Thursday, with a Buy recommendation and a price target of 954 euros.

In a study devoted to the sector, which sees it start tracking the major European semiconductor groups, the broker considers that ASML's current monopoly position in the lithography systems market should lead to earnings per share (EPS) of 29 euros in 2025 and 63 euros by 2030, compared with 20 euros per share in 2023.

The broker adds that market estimates for 2024 do not seem over-ambitious, and points to potential appreciation as the sector enters a recovery phase.

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