JPMorgan raised the firm’s price target on Applied Materials (AMAT) to $220 from $210 and keeps an Overweight rating on the shares following the “solid’ July quarter report. The outlook missed expectations due to China spending digestion following strong spending in 2023 and 2024, the analyst tells investors in a research note. The firm lowered fiscal 2025 estimates and moved its price target December 2026 from 2025.
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Read More on AMAT:
- Applied Materials price target lowered to $180 from $185 at UBS
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- Hold Rating for Applied Materials Amid Chinese Market Challenges and Uncertain AI Demand
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