Applied Materials price target raised to $250 from $170 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Applied Materials (AMAT) to $250 from $170 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the semiconductors and semiconductor capital equipment sector. The firm is “getting more selective” on companies with direct artificial intelligence exposure following the recent stock moves. Certain stocks are pricing in much of the full benefit of AI deployment, the analyst tells investors in a research note.