BofA Securities analyst Didier Scemama reiterated a Buy rating and $1,672.00 price target on ASML Inc. (NASDAQ: ASML).

The analyst comments "Yesterday, we hosted Erik Hosler, former Chief Technology Officer and Founder at xLight Inc. Following the discussion, we continue to view China as a limited competitive risk and see emerging inflection points tied to the industry shift toward edge AI. We reiterate our Buy/Top Pick for ASML at PO €1,454/$1,672 on 31.0x CY27E EV/EBITDA. China’s domestic EUV push is advancing but remains a limited competitive threat to ASML, with capabilities still several years behind. A key structural disadvantage is China’s lack of global integration and deep customer collaboration, which underpins ASML’s technology leadership. Leading fabs (e.g. TSMC, Intel) are unlikely to adopt unproven Chinese EUV tools, while domestic players (e.g. SMIC, CXMT) will likely continue to purchase ASML immersion and local EUV systems in parallel. China may gain some traction in emerging markets through discounted pricing."

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Shares of ASML Inc. closed at $1413.35 yesterday.