Why ASML Rallied on Monday
Shares of ASML (NASDAQ: ASML) rallied on Monday, up a strong 6.6%.
ASML had been a relative laggard compared with other semiconductor equipment stocks this year, but received a nice upgrade on Friday afternoon from a sell-side analyst. The upgrade coincided with recent strong data on the ongoing AI buildout, lifting shares well above the market.
Arete Research is a boutique equity research shop that isn't affiliated with a major Wall Street bank, but has been covering tech, media, and telecom since 2000. Arete has been covering ASML since 2018, but upgraded the stock from hold to buy for the first time today, while putting an 879 euro price target on shares. The stock currently trades near that figure in terms of dollars, but only trades at 729.40 euros as of this writing.
Source Fool.com
