Applied Materials price target raised to $430 from $385 at RBC Capital

RBC Capital raised the firm’s price target on Applied Materials (AMAT) to $430 from $385 and keeps an Outperform rating on the shares. The company reported strong results driven by healthy WFE environment and secular technology trends, the analyst tells investors in a research note. China share loss concerns are overdone and the firm expects double-digit topline momentum to sustain into 2027 despite slower mature node demand, RBC adds.