Applied Materials (AMAT) PT Raised to $65 at Berenberg

Berenberg raised its price target on Applied Materials (NASDAQ: AMAT) to $65.00 (from $52.00) while maintaining a Buy rating.

Analyst Tammy Qiu is incrementally more positive on wafer fab equipment spending cycle and likes the strong fundamental read-through into 2018 and 2019. The analyst expects 2018 spending levels to remain robust even though the growth rate is likely to slow down from this year according to a morning research note.

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