Applied Materials price target lowered to $200 from $225 at Raymond James

Raymond James lowered the firm’s price target on Applied Materials (AMAT) to $200 from $225 and keeps an Outperform rating on the shares. Applied Materials’ Q2 revenue and Q3 outlook were largely in-line with consensus, though EPS trended better on margin strength, the analyst tells investors in a research note. The firm believes risk/reward is attractive given secular GenAI tailwinds, bottoming ICAPS business, and solid margin execution.