Applied Materials price target raised to $364 from $273 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Applied Materials (AMAT) to $364 from $273 and keeps an Overweight rating on the shares. Though concerns will still take time to dissipate, a beat and raise should help move the narrative around the stock in “a more constructive direction, says the analyst, who expects Applied to guide to April quarter revenue up 3%-4% versus the Street at up 2%.