ASML shares ended the session up 1.5% on the Amsterdam Stock Exchange. Jefferies reiterates its 'buy' recommendation on ASML and raises its target price from 1050 to 1260 euros, in the wake of its sales and earnings forecasts for the Dutch semiconductor equipment supplier over 2025 and 2026.

We expect higher advanced logic orders and strong DRAM orders to drive ASML's 2025 sales to the top end of its guidance range of 30 to 40 billion euros," he says.

Jefferies now forecasts sales of 38.2 billion euros for 2025, with EPS up 62% to 32.3 euros (14% above consensus), and expects valuation multiples to remain firm over the next 12 months.

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