Applied Materials price target raised to $240 from $230 at Stifel

Stifel raised the firm’s price target on Applied Materials to $240 from $230 and keeps a Buy rating on the shares. Applied Materials reported upside to Q2 earnings and guided modestly above consensus for Q3, affirming Stifel’s belief in the company’s ability to leverage the breadth of its technology in a way few others have, resulting in remarkable revenue consistency throughout this downturn, the analyst tells investors in a research note.