Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Applied Materials (AMAT) to $162 from $164 and keeps an Underweight rating on the shares. Applied didn’t deliver the modest upside seen at peers KLA Corp. (KLAC) and Lam Research (LRCX), but was closer to in line with the firm’s expectations as China declined slightly more than expected, the analyst tells investors in a post-earnings note.
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