Applied Materials (AMAT) PT Lowered to $140 at Cowen
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Cowen analyst Krish Sankar lowered the price target on Applied Materials (NASDAQ: AMAT) to $140.00 (from $160.00) while maintaining an Outperform rating following earnings.
The analyst commented, "AMAT reported a strong July ’22 Q and Sept ’22 guide despite the challenging macro/supply chain environment. Following mid-90s WFE in CY22, management expects a softening in memory spending CY23 and pockets of weakness in ICAPs, offset by continued foundry/logic strength. We continue to view AMAT as a high-quality long-term investment."
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