Bernstein Applied Materials · AMAT

Bernstein Lowers Applied Materials Price Target to $600

Analyst: Stacy Rasgon 1 min read Reproduced verbatim
Rating
Outperform
Target
$600
from $700 (−14%)
Upside
+58%
AMAT at $381 today

5th-lowest of 10 current targets on Applied Materials, 3% below the $620 median. Bernstein has reached 80% of its year-old targets (25 scored).

Bernstein and Applied Materials logos

What the analyst said

Bernstein SocGen Group analyst Stacy Rasgon lowered the price target on Applied Materials (NASDAQ: AMAT) to $600 (from $700) while maintaining an Outperform rating.

“Assuming AI spending continues, we still like WFE as a good place to play the theme from. And we continue to like AMAT’s place in that call. Raising estimates, though lowering multiple from 33x to 24x given the current environment; PT to $600 vs $700 prior (24x vs 33x prior, on FY28 EPS of $25.07). We rate AMAT Outperform.”

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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

AMAT trades at $381. The 10 analysts who set a target in the last 3 months range from $500 to $850, with a median of $620. This $600 target is 3% below the median.

12-month window: day 0 of 365, closes on November 13, 2027.

Track record

This callOpen: a 12-month target, scored on November 13, 2027, a year after the note.

Firm track recordBernstein: 80% of its 25 targets at least a year old were reached within 12 months (#10 of 26 firms). Accuracy ranking →

Bernstein on Applied Materials

Bernstein price targets on Applied Materials

4 calls from January 12, 2026 to November 13, 2026. The target went from $325 to $600 (+85%). The rating stayed Buy.

Bernstein targetAMAT share price
  1. November 13, 2026 This noteTarget cut from $675 (−11%)Buy$600
  2. August 10, 2026Target raised from $390 (+73%)Buy$675
  3. February 9, 2026Target raised from $325 (+20%)Buy$390
  4. January 12, 2026Earliest call shownBuy$325
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Other analysts on Applied Materials

MizuhoBuy Cut price target −14%, kept ratingCut target Nov 13 $510from $590−14% UBSBuy Cut price target −8%, kept ratingCut target Nov 13 $640from $695−8% Bank of AmericaBuy Cut price target −20%, kept ratingCut target Nov 13 $520from $650−20% KeyBancBuy Kept rating and price targetReiterated Nov 13 $750maintained TD CowenBuy Cut price target −29%, kept ratingCut target Nov 13 $500from $700−29%
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.