Bernstein: Raise Asme's price target to 2500 euros, list three major upside drivers.

Bernstein raised ASML's target price from 2300 euros to 2500 euros, maintaining an "outperform" rating. Analyst David Dai pointed out three main drivers of the uptrend: firstly, ASML plans to increase annual capacity for low numerical aperture EUV and ArFi by 30% in 2027 and 2028; there is room for pricing improvement, with estimated average selling price of EUV expected to rise by 10% in 2027 and achieve high single digit percentage growth in 2028; bullish on margin improvement potential, as the company's gross margin guidance for the second half of 2026 is 56%, higher than the market's general expectation of 52.6%. Bernstein raised ASML's 2027 and 2028 revenue forecasts to 56 billion and 72 billion euros respectively, and corresponding earnings per share forecasts to 53.6 and 75.3 euros.