Applied Materials price target raised to $211 from $170 at Citi

Citi raised the firm’s price target on Applied Materials to $211 from $170 and keeps a Buy rating on the shares. Applied Materials reported another quarter of elevated DRAM shipments to China which the company previously thought would end in the January quarter, the analyst tells investors in a research note. The firm says its sector thesis is playing out with Applied Materials and the group to grind higher on continued valuation expansion and improving 2025 wafer fab equipment outlook. The firm likes Applied Materials’ “balanced exposure to key equipment megatrends.”