According to CNBC, Bank of America reiterated its buy rating on ASML and kept its $2,845 price target for U.S.-listed shares after a report that China is developing immersion deep ultraviolet lithography machines. ASML shares fell another 5% on Tuesday after dropping 5.9% in the prior session, but analyst Didier Scemama said the Chinese threat is only modest and that replacing ASML would require a domestic alternative with comparable productivity, overlay and cost of ownership. He said even if China can source 20 argon fluoride immersion tools locally, the impact would be 1.4 billion euros of ASML sales in 2027, or 2.4% of group sales, and described the weakness as an over-reaction.