JPMorgan lowered the firm’s price target on Applied Materials (AMAT) to $210 from $240 and keeps an Overweight rating on the shares. The company reported in-line April quarter revenue results, better gross margins and slightly better earnings and provided an in-line outlook for the June quarter, the analyst tells investors in a research note. However the firm reduced 2025 estimates to account for a weaker second half of the year demand profile driven by tariff related dynamics for the overall industry.
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Read More on AMAT:
- Buy Rating for Applied Materials: Strong DRAM Demand and Revenue Growth Drive Positive Outlook
- Applied Materials price target lowered to $162 from $164 at Morgan Stanley
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