Deutsche Bank lowered the firm’s price target on Applied Materials (AMAT) to $200 from $220 and keeps a Hold rating on the shares. The company reported a solid earnings print and guidance but failed to meet a more optimistic investor bar as wafer fab equipment spending remains mixed in the near term, the analyst tells investors in a research note. The firm says that besides for some incremental gross margin upside, there was little from the report that would cause it to change its view on Applied Materials.
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Read More on AMAT:
- Applied Materials Reports Strong Fiscal Year 2024 Results
- Closing Bell Movers: Applied Materials down 6% after earnings, guidance
- AMAT Earnings: Applied Materials Falls amid Soft Outlook
- Applied Materials reports Q4 EPS $2.32, consensus $2.19
- Applied Materials sees Q1 EPS $2.29 +/- 18c, consensus $2.27
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