TD Cowen lowered the firm’s price target on Applied Materials (AMAT) to $220 from $225 and keeps a Buy rating on the shares. The firm said resultsand gidance were ahead of consensus on the bottom line rather than the top line. There was minimal tariff impact in the April and July quarter. Broad-based product momentum is solid and the company does have some pricing levers to alleviate higher costs but the end demand impact is harder to quantify.
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