Applied Materials price target raised to $170 from $160 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Applied Materials (AMAT) to $170 from $160 and keeps an Equal Weight rating on the shares. The firm sees a strong semiconductor capital equipment setup in the second half of 2025 on better China dynamics but thinks Street estimates for 2026 remain structurally too high. As such, Barclays struggles to see how the group works after the better back half of the year is digested by investors.