Applied Materials price target raised to $142 from $139 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Applied Materials to $142 from $139 and keeps an Equal Weight rating on the shares. Strength in trailing edge logic and more recently trailing edge China DRAM “has been the story for AMAT this year, even more so than peers,” but the company is describing that some of those factors could reverse, the analyst tells investors. Separately, an unconfirmed report of a federal investigation into Applied Materials’ China shipments “could weigh on the stock,” the analyst added.