Is ASML Stock Going to $1,150? 1 Wall Street Analyst Thinks So.
Rising 41% over the last year, ultraviolet lithography manufacturer ASML's (NASDAQ: ASML) stock has continued an incredible run, with its stock price up more than tenfold since 2014.
Using ultraviolet light to etch nanoscopic patterns onto silicon wafers for use in semiconductor chips, ASML has mastered the intricate lithography process. This mastery enables the company to hold a two-thirds market share of the more mature deep ultraviolet (DUV) lithography niche and a monopoly on the bleeding-edge extreme ultraviolet (EUV) lithography industry.
It's this market dominance and unmatched technology that will help ASML stock move even higher, according to Wells Fargo analyst Joseph Quatrochi, and continue the company's incredible recent run. Boosting his price target on ASML to $1,150, Quatrochi suggests the stock has more than 20% upside over the next 12 months or so.
Source Fool.com