Deutsche Bank analyst Melissa Weathers upgraded Applied Materials (AMAT) to Buy from Hold with a price target of $390, up from $275. The firm upped estimates for the company to reflect a “much more constructive” wafer fab equipment environment entering 2026 and 2027. Deutsche’s out-year estimates are now 10% above the Street, with potential upside risk, the analyst tells investors in a research note. The firm views Applied Materials’ current discount valuation to peers as overdone. it sees potential for the gap to shrink going forward.
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