B. Riley analyst Craig Ellis raised the firm’s price target on Applied Materials (AMAT) to $550 from $530 and keeps a Buy rating on the shares. Applied Materials delivered materially better-than-expected Q2 results and strong Q3 outlook driven by AI-related strength in foundry, DRAM, and advanced packaging, with significantly higher systems and services growth, improving industry WFE expectations, and expanding exposure to next-generation toolsets and packaging technologies that reinforce its positioning for sustained share gains and multi-year growth momentum, the analyst tells investors in a research note.
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- Applied Materials price target raised to $575 from $550 at Cantor Fitzgerald
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