ASML Shares Rise 2% After Erste Group Upgrade To Buy

Erste Group upgraded ASML Inc. (NASDAQ: ASML) to Buy from Hold, sending shares up more than 2% on Monday.

The firm said ASML’s monopoly in cutting-edge lithography systems gave it a strong long-term advantage, while its recent investment in French AI start-up Mistral offered an opportunity to diversify revenues and boost profitability.

Erste also noted ASML could benefit from the announcement that Nvidia would acquire a stake in Intel, potentially increasing demand for ASML machines as Intel’s business strengthens.