Morgan Stanley lowered the firm’s price target on Applied Materials (AMAT) to $252 from $256 and keeps an Overweight rating on the shares. The firm thought earnings would be a positive catalyst, but numbers and comments were “uninspiring,” the analyst tells investors. However, while the firm “came away more disappointed than encouraged,” it believes Applied’s memory business is doing extremely well and should outperform the market after getting past challenging China DRAM year-over-year comps.
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Read More on AMAT:
- Applied Materials price target raised to $270 from $265 at B. Riley
- Applied Materials stock to be range bound following quarter, says Goldman Sachs
- Applied Materials price target lowered to $205 from $215 at Mizuho
- Craig-Hallum downgrades Applied Materials to Hold, looks for better entry point
- Applied Materials downgraded to Hold from Buy at Craig-Hallum