Assembly Biosciences, Inc. (ASMB)

Shares of ASML ($ASML), ON Semiconductor ($ON), and Qualcomm ($QCOM) climbed in Monday’s trading after Wall Street analysts turned more bullish on the chipmakers. B...

The firm reiterated its outperform rating on the stock and hiked its price target.

Follow real-time stock swings and analyst updates on InvestingPro · The brokerage kept its “outperform” rating on the Dutch chipmaking equipment maker and raised its target multiple to 40 times earnings from 35 times, which it described as one standard deviation above the historical mean.

The firm raised its target price-to-earnings multiple to 40 times from 35 times, noting ASML trades at trough valuation versus peers. The company currently trades at a P/E ratio of 63.3, and InvestingPro analysis suggests the stock is overvalued relative to its Fair Value.

Bernstein maintains a bullish outlook on ASML after the semiconductor equipment stock doubled in a year, citing AI-driven earnings growth and EUV monopoly.