Cantor Fitzgerald Raises Applied Materials Price Target to $850

Cantor Fitzgerald analyst C.J.

Muse raised the price target on Applied Materials (NASDAQ: AMAT) to $850.00 (from $650.00) while maintaining an Overweight rating.

“In Semi Equipment, we see the most EPS upside from ASML.

Considering being a significant underperformer, we see a meaningful catch-up trade here.

We do continue to like LRCX, AMAT, and KLAC, but we see more limited upside to EPS here (we could see modest relative underperformance here through earnings like we did last earnings season).”

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