Oddo BHF has reiterated its 'outperform' rating on ASML and raised its target price from 800 to 900 euros, following the publication of better-than-expected quarterly results, with orders well above consensus.

'This publication lends credibility to the scenario of a strong rebound in 2025. Even if we lower our EPS a little (mainly due to an increase in the number of shares), EPS growth could be close to 50% in 2025", says the analyst.

The research firm also highlights the value's "structural growth character (continuing technological transitions, construction of strategic production capacities), reinforced by the start of a cyclical recovery".

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