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![CorleoneDon77 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1577382889104318472.png) DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5486 followers
Created: 2025-07-17 19:19:20 UTC

$ASML

Attached is page X of a 11-page Wells Fargo analyst report on ASML issued yesterday entitled:

"Tariff Uncertainty Remains Overhang on Forward Visibility"

Wells Fargo has a 'Overweight' rating on ASML with a $XXX price target.

Wells Fargo's 'Call' regarding ASML in the report includes the following:

"While another disappointing reset, we believe further de-risked ests could provide an interesting 2026 setup. That said, increasing macro / tariff uncertainty will leave bookings activity / forward visibility as a key driver of shares.

Estimate Changes: 

Following our estimate reductions ahead of 2Q25 earnings, our update model reflects only modest downward revision. We now estimate X% growth in 2026 (vs. prior +7% y/y). Our C2025, C2026, and C2027 revenue / EPS estimates now stand at €32.38B / €24.11, €33.48B / €26.44, €37.36B / €31.20 (vs. prior €32.2B /€23.35, €34.4B / €27.12, €37.9B / €31.55).

-- Target Price Valuation: $XXXXXX from NC

Our $XXX price target is 29x P/E and 23x EV/EBITDA on our C2026 estimates, which is in line the historical median multiple.

We believe ASML positioning as sole provider of EUV technology and 90%+ share in the lithography market deserves a premium multiple to peers.

-- Downside risks include: 

(1) execution/market adoption of new technology—particularly the company's next generation EUV and High-NA systems; 
(2) Market/Customer Concentration—60% of revenue from foundry/logic with a few key customers; 
(3) ability to secure supply of components to assemble systems and adequate manufacturing capacity; 
(4) weaker-than-expected demand for trailing-edge tools; and 
(5) Potential export restrictions on China."

(Page X is not available here as X does not allow me to post pages from reports on this platform)


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945926310536327631/c:line.svg)

**Related Topics**
[reset](/topic/reset)
[visibility](/topic/visibility)
[tariffs](/topic/tariffs)
[asml](/topic/asml)
[$asml](/topic/$asml)
[$wfc](/topic/$wfc)
[stocks financial services](/topic/stocks-financial-services)
[stocks banks](/topic/stocks-banks)

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