Morgan Stanley raised the firm’s price target on Applied Materials (AMAT) to $190 from $142 and keeps an Equal Weight rating on the shares ahead of the company reporting Thursday after the close. Consistent with Lam (LRCX) and KLA Corp. (KLAC), the firm expects DRAM revenue at Applied to exceed record highs, as the company should benefit from continued China demand, the analyst tells investors in an earnings preview note.
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