Applied Materials price target raised to $185 from $180 at UBS

UBS raised the firm’s price target on Applied Materials to $185 from $180 and keeps a Neutral rating on the shares. Applied Materials had a beat and raise quarter, due mostly to China dynamic random-access memory remaining strong for Q1 longer than had been guided last quarter, the analyst tells investors in a research note. Applied Materials appears well-positioned given the firm’s bullish view on DRAM, but it is hard to rationalize a +10% aftermarket move on these results, UBS adds.