Applied Materials price target raised to $165 from $140 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Applied Materials to $165 from $140 and keeps an Underweight rating on the shares following the quarterly results. China came in at an all-time high with strength persisting into April, which sets the stage for a “smoother hand off” in the second half to a leading edge recovery, the analyst tells investors in a research note.