B. Riley raised the firm’s price target on Applied Materials (AMAT) to $270 from $265 and keeps a Buy rating on the shares. Applied Materials’ execution was above-consensus on sales, gross margin, and EPS for Q4 results and guidance, the analyst tells investors in a research note. The firm believes Foundry and Memory strength persists, China is moderating as expected, and Services recurring sub-segments are driving solid growth.
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