CITIC Securities gives ASM "buy" rating with a target price of $1620.

CITIC Securities gives ASML a buy rating with a target price of $1620. The company's revenue and gross margin guidance for 2026 is optimistic, with strong new order growth. EUV and storage account for 56% of orders, indicating robust downstream demand. Capacity planning can meet customer demand for the next two years without industry bottlenecks. Based on comparable valuations, a target price of $1620 is given.