Applied Materials (AMAT) PT Lowered to $140 at Cowen

August 19, 2022 9:36 AM EDT
Get Alerts AMAT Hot Sheet
Price: $84.42 -1.84%

Rating Summary:
    25 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 11 | New: 34
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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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