Investing.com -- ASML shares rose on Thursday after Barclays upgraded the stock to Overweight, pointing to record orders, accelerating AI-driven demand, and multiple upside scenarios that the bank believes are not yet fully reflected in estimates. “Expectations were high heading into results but the hope materialised into record orders which drives material upgrades to estimates,” analyst Simon Coles said in a note. The bank lifted its price target to €1,500 from €1,200, arguing there remains “scope for further upside” as guidance appears conservative. Alongside record orders, ASML on Thursday also lifted its 2026 outlook, reflecting accelerating demand tied to artificial intelligence and data-center investment. Coles said ASML’s cautious stance on the region had reflected earlier visibility issues and export control risks, but recent trends suggest demand remains resilient.