Morgan Stanley raised the firm’s price target on Applied Materials (AMAT) to $169 from $158 and keeps an Equal Weight rating on the shares. Following the firm’s Asia trip, it revised up its 2025 China wafer fab equipment forecast from down 12% year-over-year to down 3%. The firm added that its biggest takeaway from the trip was the indication that China will come in far stronger in the second half versus the first half.
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