Stifel analyst Brian Chin lowered the firm’s price target on Applied Materials (AMAT) to $180 from $195 and keeps a Buy rating on the shares. Fiscal Q3 revenue and EPS exceeded estimates, but the outlook for Q4 was weaker than expected, reflecting digestion in China and lower leading-edge foundry/logic, the analyst tells investors. The firm expected leading-edge momentum to slow, “albeit less abruptly,” and for China shipments to not be so Q3-weighted, but it continues to think that Applied should capture above-average share of leading-edge foundry/logic and DRAM/HBM investment.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMAT:
- Mixed Signals Lead to Hold Rating on Applied Materials Amid Strong China Performance and Foundry Logic Challenges
- Applied Materials price target raised to $220 from $210 at JPMorgan
- Applied Materials price target lowered to $180 from $185 at UBS
- Applied Materials price target lowered to $200 from $220 at Mizuho
- Hold Rating for Applied Materials Amid Chinese Market Challenges and Uncertain AI Demand