Applied Materials price target raised to $400 from $260 at JPMorgan

JPMorgan analyst Harlan Sur raised the firm’s price target on Applied Materials (AMAT) to $400 from $260 and keeps an Overweight rating on the shares. The company prorated solid fiscal Q1 results, reflecting another quarter of strong execution, the analyst tells investors in a research note. The firm says Applied’s outlook sets the stage for a growth trajectory in 2026 that “lands well north of prior estimates (while still leaving the door open for further upside).”