Applied Materials price target raised to $550 from $500 at Wolfe Research

Wolfe Research raised the firm’s price target on Applied Materials (AMAT) to $550 from $500 and keeps an Outperform rating on the shares after what the firm says was a “solid beat” and “strong raise.” The company reported April quarter revenue 3% above Street expectations, guided July quarter 10% ahead of consensus and raised calendar 2026 systems growth guidance to 30% year-over-year from a prior 20%, the analyst noted.