Wells Fargo analyst Joe Quatrochi raised the firm’s price target on Applied Materials (AMAT) to $255 from $250 and keeps an Overweight rating on the shares. The firm says that while some moving parts in Applied Materials’ Q1 2026 guide, forward commentary was consistent with peers, expecting a second half of 2026 acceleration. Continuing to trade at a discount to peers, Wells is a buyer on weakness and remains positive on Applied’s position for 2026 WFE outperformance.
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