Deutsche Bank announced on Monday that it had raised its target price for ASML from €1,000 to €1,100, while renewing its buy recommendation on the stock.

In a research note, the financial intermediary explains that it expects the share price of the Dutch semiconductor equipment supplier to continue to perform well until the next investor meeting, scheduled for November.

The analyst points out that, from the market's point of view, it is understood that the Group will exceed the mid-point of the €30-40 billion range it had set itself as its 2022 sales target by 2025.

Deutsche Bank believes, however, that it will be more difficult to achieve sales at the upper end of this range

According to Deutsche Bank, the market's attention will now turn to the outlook to 2030, which is currently characterized by a sales forecast of 44 to 60 billion euros by this date.

The company expects this target to be revised upwards to a new range of between 50 and 62 billion euros, an improvement of four billion euros on the mid-point.

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