RBC Capital analyst Srini Pajjuri raised the price target on ASML Inc. (NASDAQ: ASML) to $1,625.00 (from $1,550.00) while maintaining an Outperform rating.

The analyst commented: "Bookings Strength Points To Sustainable Demand; ASML reported a strong quarter with record bookings of €13.2B vs recent expectations for €8-€10B. As expected, strong AI demand for DRAM and Advanced Logic is more than offsetting slowing China business. Productivity gains are driving higher EUV intensity and HighNA progress remains on track. Looking ahead, FY26 guidance appears constrained by cleanroom space (esp. at TSMC) and could prove conservative. We expect double-digit revenue momentum to sustain into FY27 on the back of tight DRAM supply, adoption of more advanced nodes in AI XPUs, and re-emergence of Foundry competition. We raise estimates, raise PT, and reiterate Outperform."