ASML Stock Declines On Mizuho Downgrade Over Risk To 2026 Sales Outlook: Retail's Divided

The brokerage expects ASML’s EUV equipment shipments to fall to 49 units in 2026, down from 53 in 2025.

Shares of ASML Holding NV (ASML) declined more than 3.5% in Wednesday’s after-market trading session after Mizuho analysts downgraded them.

According to The Fly, Mizuho downgraded ASML to ‘Neutral’ from ‘Buy,’ citing the company’s less-than-exciting business outlook for 2026.

The brokerage has a price target of 650 euros from 810 euros – this implies a 9% upside, which has been reduced from 35% earlier, for the company’s stock listed on the Euronext Amsterdam stock exchange.

Mizuho forecasted a decline of 3% in ASML’s 2026 sales, while earnings per share (EPS) is expected to remain flat.

“We see some EUV shipments pull-in for TSMC in 2025 based on our estimated EUV installation, which should lead to EUV shipments decline in 2026,” Mizuho said, highlighting that higher customer concentration to Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) could result in higher volatility for ASML.

The brokerage expects EUV equipment shipments to fall to 49 units in 2026, down from 53 in 2025.

Retail sentiment on Stocktwits around ASML edged up to ‘neutral’ territory, from ‘bearish’ a day ago, but it still showed caution among investors.

However, on a positive note, one user expressed happiness over the stock’s decline on Wednesday, saying this will help them accumulate.

Koyfin data shows that of the 39 analysts covering the stock, 28 have a ‘Buy’ or ‘Strong Buy’ recommendation, while 10 have a ‘Hold’ rating. One brokerage has a ‘Sell’ suggestion.

ASML’s stock has declined 3% year-to-date.

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