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Applied Materials price target raised to $250 from $245 at Berenberg

Berenberg analyst Tammy Qiu raised the firm’s price target on Applied Materials (AMAT) to $250 from $245 and keeps a Buy rating on the shares. The firm says its outlook for capex in the semiconductor sector is broadly unchanged since January, as the potential impact on its end markets from U.S. tariffs and the artificial intelligence diffusion rules appears smaller than it feared in early April. Berenberg forecasts that spending on wafer fab equipment will rise by 3% in 2025 and 4% 2026.

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