Key TakeawaysASML delivered Q2 2026 earnings that exceeded expectations across revenue, production capacity, and profit margins.Bernstein elevated its price objective to €2,500, establishing the highest target among Wall Street analysts, maintaining Outperform.Barclays increased its forecast to €2,400 from €2,000, confirming its Overweight stance.The company upgraded its 2026 annual net sales projection to a range of €43B–€45B from the previous €36B–€40B estimate.Wedbush highlighted that improved 2027 projections signal robust demand for advanced logic chips and DRAM driven by AI infrastructure.ASML delivered second-quarter 2026 financial results that surpassed analyst expectations on every key metric, triggering a wave of bullish analyst revisions and elevated price targets throughout Wednesday’s trading session.Shares climbed more than 2% during Wednesday’s session after the earnings release, though they retreated 1.8% in Thursday’s premarket activity.ASML Holding N.V., ASMLBernstein’s semiconductor analyst David Dai elevated his price objective to €2,500 from €2,300 — establishing the highest target among Wall Street coverage — while maintaining his Outperform recommendation. Dai characterized the quarterly performance as delivering “triple happiness.”Dai identified three key catalysts for his bullish stance. First, ASML announced plans to expand Low NA EUV and ArFi production capacity by 30% annually throughout 2027 and 2028. DUV manufacturing capacity is projected to reach 220 units by 2028, surpassing previous forecasts.Second, Bernstein anticipates favorable pricing dynamics ahead. EUV system average selling prices are forecast to increase 10% during 2027, supported by management’s indication that Low NA EUV throughput has jumped 45% year-over-year while capacity expanded 30%. An additional high-single-digit price increase is anticipated for 2028.Third, profitability metrics exceeded projections. ASML provided guidance for a 56% gross margin in the latter half of 2026, significantly above the Wall Street consensus estimate of 52.6%.Bernstein increased its 2027 and 2028 revenue projections to €56 billion and €72 billion respectively. Earnings per share forecasts were elevated to €53.6 and €75.3, with the 2028 estimate positioned 37% above current consensus expectations.Barclays Boosts Forecast, Highlights Margin Expansion and China ReboundBarclays semiconductor analyst Simon Coles likewise increased his price target, advancing it to €2,400 from €2,000, while maintaining his Overweight rating.Coles identified gross margin performance as “the major positive this quarter,” fueled by resurgent China DUV demand, strengthening EUV pricing power, and robust system upgrade activity.Barclays lifted its 2026 revenue projections by 11% and 2027 estimates by 5%. The firm observed that ASML shares have surged approximately 150% since September 2025.Annual 2026 Outlook Significantly IncreasedASML elevated its full-year 2026 net sales guidance to a range between €43 billion and €45 billion. This represents a substantial increase from the company’s previous guidance of €36 billion to €40 billion and significantly exceeds the analyst consensus estimate of €39.3 billion.The enhanced 2027 outlook also drew attention from Wedbush Securities analyst Matt Bryson.Bryson stated that the guidance enhancement, combined with a potential increase in 2028 EUV system deployments, “is consistent with the strong demand we are seeing for both leading-edge logic and DRAM to support AI builds.”He added that elevated capital expenditure in 2027 is anticipated to fuel increased chip production in late 2027 and throughout early 2028, with particular strength in the memory segment. Bryson acknowledged some uncertainty regarding when manufacturing supply will fully meet expanding demand, given the continued acceleration in spending.ASML currently projects full-year 2026 total net sales of €43B–€45B, compared to its earlier forecast of €36B–€40B and well above the €39.3B average analyst estimate.The post ASML (ASML) Stock Surges as Bernstein Sets New Wall Street High Price Target appeared first on Blockonomi.