TD Cowen Raises Applied Materials Price Target to $450
- Rating
- Buy
- Price target
- $450
- from $315
- Implied upside
- +37%
- vs $328.39 prior close
TD Cowen analyst Krish Sankar raised the price target on Applied Materials (NASDAQ: AMAT) to $450.00 (from $315.00) while maintaining a Buy rating.
“AMAT & LRCX both implied +20% semi system growth in C26, above ASML/KLAC.
With AMAT & LRCX combined representing 30% of global WFE the question is whether it is the overall WFE market that will grow 20%+ or it’s a relative exposure/share gain story as dep./etch intensity increase with DRAM nodes (1-gamma) & the GAA Foundry transition.
Either way, see AMAT as well positioned to benefit. PT to $450.”
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Tracking this call
Since this note+59% AMAT $328.39 → $520.65 (Oct 8) · target reached
This call at 6 months✓ Target reached on May 26, 2026, 3 months after the note.
Firm track recordTD Cowen reached 76% of its 34 scored targets within six months (#6 of 31 firms). Accuracy ranking →
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