Deutsche Bank raised the firm’s price target on Applied Materials to $170 from $155 and keeps a Buy rating on the shares. The firm also names the stock its favorite name in Large-Cap Semicap Equipment. The stock is up 52% year-to-date, but shares remains the least expensive among large-caps, trading at 2-3 turns below KLA Corp (KLAC) and Lam Research (LRCX) on expected 2025 basis, reflecting investor concerns that lagging-edge investments, primarily in China, will eventually normalize, the analyst tells investors in a research note.
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